Bitcoin halving occurs every four years, reducing the block reward by half. It maintains scarcity and affects the currency in several ways. It reduces inflation, slowing down new bitcoin issuance. Supply shock can drive up the price if demand remains or increases. Miner incentives change as they receive fewer bitcoins, impacting profitability and network hashrate temporarily. Previous halvings have led to price increases, but outcomes depend on market factors like sentiment, adoption, regulations, and macroeconomics.

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