Halving 💸 - the biggest event in the crypto industry.
What is it and why should you care? Let me explain in simple terms...👇🏻
📌 Halving - a pre-planned event where the reward for mining and verifying new blocks is reduced by 50%, meaning miners will only receive half of the amount of Bitcoin they used to get.
🟢Why is Halving needed...
Reducing the reward decreases the rate of new Bitcoins being mined, effectively lowering their inflation rate. Halving occurs approximately every four years and is part of the mechanism controlling the circulation of Bitcoins, aiming to limit the total number of Bitcoins to 21 million.
🟢What does it impact...
Halving draws attention to the crypto market, not only to Bitcoin itself , but also to altcoins. Investors may become more optimistic about the growth potential of crypto assets. This enthusiasm may lead to increased investments in alts, causing their prices to rise 🚀 Additionally, since the mining reward for Bitcoin is reduced, some miners may switch to mining altcoins with higher rewards.
Now you understand why there is anticipation in the altcoin market and why it is expected to make a move within a month...