What is Bitcoin Halving IN 2024?
This mechanism serves to control inflation and maintain Bitcoin's scarcity, a fundamental characteristic driving its value proposition.Historically, each halving has been accompanied by a surge in Bitcoin's price, driven by increased scarcity and heightened market speculation. The halving events occurred in 2012, 2016, and 2020 and catalysed significant bull runs, propelling Bitcoin to new all-time highs in subsequent months.
BUSINESS - Bitcoin, the pioneer of digital currencies, has undergone numerous transformations since its inception. Among the most significant events in Bitcoin's lifecycle are the halving events, which occur approximately every four years. With the next halving in the next few hours, the anticipation around this event is high in the broader crypto landscape.
The halving is a programmed event embedded in Bitcoin's code, designed to occur every 210,000 blocks, roughly every four years. During this event, the rate at which new Bitcoins are mined is halved, effectively reducing the supply rate. This mechanism serves to control inflation and maintain Bitcoin's scarcity, a fundamental characteristic driving its value proposition.Historically, each halving has been accompanied by a surge in Bitcoin's price, driven by increased scarcity and heightened market speculation. The halving events occurred in 2012, 2016, and 2020 and catalysed significant bull runs, propelling Bitcoin to new all-time highs in subsequent months.
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