The bitcoin halving is a scheduled event that occurs approximately every four years and halves the amount of bitcoins awarded to miners for each block they validate on the network. This process aims to control the issuance of new bitcoins and maintain their scarcity, since the total supply of $BTC is limited to 21 million units¹²³.
The bitcoin halving affects the supply and demand dynamics of the cryptocurrency, as it reduces the income of miners and decreases the speed at which new bitcoins are created. This can lead to market volatility and increased speculation on the price of BTC, as well as spur technological innovation and community development within the blockchain ecosystem².
The next bitcoin halving is expected to occur in April 2024, when the block height reaches 840,000. At that time, the block reward will be reduced from 6.25 BTC to 3.125 BTC²⁴. The halving reinforces the attractiveness of bitcoin as a long-term investment asset with the possibility of functioning as a hedge against inflation².
I hope I have helped you better understand what the bitcoin halving is and why it is important.
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