2024: Bitcoin Halving, $100K break through
The next Bitcoin halving is a highly anticipated event in the world of cryptocurrency, as it will significantly impact the price of Bitcoin and the overall crypto market. This article will provide an in-depth look at the halving, including what it is, how it works, and what experts predict might happen as a result.
What is the Bitcoin Halving?
The Bitcoin halving is a predetermined event that occurs approximately every four years and is built into the Bitcoin network’s code. During a halving, the rate at which new Bitcoins are created, or “mined,” is cut in half. This process is designed to help control the supply of new Bitcoins and ensure that the cryptocurrency remains scarce and valuable over time.
The first Bitcoin halving occurred on November 28, 2012, when the block reward for mining new blocks was reduced from 50 to 25 Bitcoins. The fourth halving is expected to occur sometime in 2024, at which point the block reward will be reduced from 6.25 to 3.125 Bitcoins.
