Bitcoin Halving: Block Reward to Decrease to 3125 BTC in April 2024
What is a Bitcoin Block Halving Event?
Block halving events occur every 210,000 blocks on the Bitcoin blockchain, which typically takes around four years.
How Bitcoin Halving Works
During a halving event, the block reward for mining a new block decreases by half. This is a key aspect of Bitcoin's monetary policy, as it controls the issuance of new BTC.
In the upcoming halving, which is projected to occur in April 2024, the block reward will decrease from 6250 BTC to 3125 BTC.
Impact of Bitcoin Halving
Historically, Bitcoin halving events have had a significant impact on the price of BTC.
After the previous halving in 2020, which reduced the block reward from 12.5 BTC to 6.25 BTC, the price of Bitcoin soared from around $9,000 to over $60,000 within a year.
While future results may vary, many analysts believe that the upcoming halving could drive further price appreciation for BTC.
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