The most anticipated event in the crypto world is approaching – the Bitcoin ($BTC ) halving, a pre-programmed event that halves the supply of new BTC approximately every four years. The halving will create a revenue shock for miners and reduce the amount of new BTC released to the market.
In Cointelegraph's latest video, we dive into the potential impact of this event for miners and investors.
Most industry participants do not think the halving will be a concern for the mining industry, but instead see it as an opportunity for miners to become more efficient.
Miners spent four years preparing for this event by upgrading their mining rigs and searching for places where electricity was cheap.
The Bitcoin halving will likely impact the price of Bitcoin as it has in the past. In the months following the halving, a supply shock could cause prices to jump if demand remains steady or increases in any meaningful way.
Price predictions range from $120,000 by the end of the year to $250,000 by the end of 2025.
However, the halving does not occur in a vacuum: the macroeconomic landscape will play a large role in determining Bitcoin's price in the short to medium term.
According to Mike McGlone, senior commodity strategist at Bloomberg, a decline in the stock market could put pressure on Bitcoin despite the halving.
