There is only one day left until the Bitcoin halving

BitcoinHalving2024 has been the talk for weeks. This word is on everyone's lips! What is this Halving2024?

One of the most important features of Bitcoin is that its supply is limited. The total amount of Bitcoin is limited to 21 million, and the creation of this amount takes place within a certain schedule.

Miners who transact on the Block chain solve mathematical problems and receive Bitcoin as bounty to put new Bitcoin into circulation and secure the network.

Bitcoin's algorithm includes a "halving" mechanism that halves block rewards every 210,000 blocks (approximately every four years). This means that with each halving, the amount of Bitcoin miners receive per block is halved. The block reward, which was initially 50 BTC, decreases to 25 BTC in the first halving and 12.5 BTC in the second halving.

As a result, with halvings, the supply of Bitcoin decreases, which can increase the price because if demand remains the same while supply decreases, the price rises.

For this reason, there may be significant fluctuations in the price of Bitcoin during halving periods.

For example, past halvings have often led to price increases because halved supply has driven up the price along with increased demand. We'll see if it will be similar this time. Some analysts are very confident that it will be, in my opinion, the market is usually the opposite of such certainties. Let's see...

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