Bitcoin Halving is complete

Bitcoin's fourth haloing, which happens every four years in the cryptocurrency world, has finally happened. This event marks a significant moment in the industry, increasing the Bitcoin block reward from 6.25 Bitcoins to 3,125 Bitcoins. As a result, the daily mining volume of Bitcoin has doubled and is now around 450 Bitcoin.

Why is Bitcoin Halving important?

The fourth haloing is important because it affects Bitcoin at the Bitcoin block height of 840,000. This increases the value of non-current Bitcoin, while decreasing the current supply, which makes it more attractive to investors.

This increase can be seen in Shawahin when a large amount of Bitcoin went into the Accumulation address before the event. Following Hailong, bitcoin's price surged, briefly falling below $60,000 and rising to $65,000 in a week.

Generally, hailing slows down supply over time, but causes a 50 percent block reward reduction, to the detriment of Bitcoin miners. This configuration may make miners with older and less power-hungry hardware unprofitable.

Currently, the network hash rate is 727 Ehash/s from the current high of 13.3 percent lower is above 630 Ehash/s,