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5 min read

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What is halving?

The Bitcoin halving is an event where the reward for mining new blocks is halved, meaning that miners receive 50% fewer bitcoins for verifying transactions. This halving happens approximately every four years and serves as a way to enforce Bitcoin’s artificial scarcity, as there is a cap of 21 million on the total number of bitcoins that can ever exist.

The halving on April 20th, 2024, will decrease the block reward from 6.25 bitcoins per block to 3.125 bitcoins per block. This not only impacts miners but also has historically influenced the Bitcoin market price and its economic environment. The halving is an integral part of Bitcoin’s economic model to control inflation and extend the distribution of Bitcoin until around the year 2140.

About Halving

What to expect after halving?

The immediate effect is on miners who see their rewards for mining new blocks cut in half. This can lead to decreased profitability for mining, especially for those with higher operational costs. Less efficient miners might exit the network, leading to a temporary decrease in the network's hash rate.

Historically, halving events have led to increased volatility in the Bitcoin price. Many investors anticipate the halving and its potential to drive prices up, leading to speculative trading.

Halving Effects

How will price be affected?

Halving often brings increased media and public attention to Bitcoin, potentially attracting new investors and increasing demand. Historically, the price of Bitcoin has tended to rise significantly after a halving, although this increase is not always immediate and can take months to manifest fully.

A drop in hash rate following the halving could temporarily reduce network security. However, if the price of Bitcoin rises, it could incentivize more mining activity, thereby enhancing security.

Halving Effects

However halving is unique and influenced by broader economic conditions, market sentiment, and technological advancements in mining, making precise predictions challenging.

Best regards, The DuckDice Team