š±š„The Halving has officially happened: What happens now?
All eyes are on Bitcoin
Halving has taken place in #Bitcoin and block rewards have decreased from 6.25 #BTC to 3.125 BTC, the expected halving in Bitcoin has officially taken place. The block rewards given to miners dropped by half at the 840,000th block at 00.09 UTC time. According to this, miners will earn 3,125 BTC from block rewards instead of 6.25 BTC until the next halving in 2028. Thus, the amount of Bitcoins produced per day was also limited to 450 BTC, while it was 900 BTC.
Everyone was waiting for today in the crypto money market. after the previous halving in 2020, investors had started to wait for 2024. the 4-year wait ended as of today and the halving was completed without any disruption.
How will Halving affect Bitcoin?
Halving is a mechanism that allows Bitcoin to have predictable inflation. Thanks to halving, which takes place every four years, the speed of launching new Bitcoins is gradually slowing down. This rule, laid down by the creator of Bitcoin, Satoshi Nakamoto, makes Bitcoin a deflationary asset.
Since the amount of Bitcoin produced per day will decrease from 900 BTC to 450 BTC, the selling pressure created by miners will decrease in the short term. In the medium and long term, there will be half as many Bitcoins released as before. It is thought that this situation will also have a positive impact on the price.
In retrospect, the rises seen after halving stand out. Bitcoin had increased by 9 thousand percent in the 12 months after the first halving in 2012. in 2016, this was 375 percent, while in 2020 it was 600 percent. The Deceleration experienced by Bitcoin after halving has enabled a link to be established between halving and price increases.
Investors are eagerly waiting to see how the price of Bitcoin will fare after the last halving we left behind.
