Madness Surrounding the 2024 Halving
Halving, also known as "halvening," is a significant event in the cryptocurrency world occurring approximately every four years. It involves reducing the rewards for miners for verifying transactions in the blockchain. Bitcoin, the pioneer cryptocurrency, operates on a fixed issuance schedule, with a maximum supply of 21 million coins. The halving mechanism, programmed into the Bitcoin protocol, reduces the block reward roughly every 210,000 blocks. This reduction slows down the pace of creating new bitcoins and leads to a gradual reduction in inflation.
The halving event has several consequences for the Bitcoin network. Firstly, it decreases the supply of new bitcoins, often leading to price increases. Historically, halving events have resulted in increased price volatility and speculative activity in the Bitcoin market. Traders closely monitor these events, anticipating a "halving rally" in the months leading up to and following the event. Halving also serves to highlight Bitcoin's deflationary nature, as the issuance rate decreases over time, potentially increasing its value as a store of wealth. Despite the short-term effects on price and miner profitability, halving events are viewed as essential milestones in Bitcoin's monetary policy and contribute to its long-term value proposition.
Against this background, on April 16, the WhiteBIT cryptocurrency exchange launched, as for me, an excellent âviralâ advertising campaign with the hashtag "hahahalving_WhiteBIT"
It is immediately clear that the team has changed its vector and has become more interesting and creative. The advertising campaign involves many cool bloggers and influencers from Ukraine.
#bitcoinhalving #BullorBear #WhiteBit
