Bitcoin halving means mining rewards are reduced by 50%, and will occur every 4 years, starting from 2012. The main purpose of Bitcoin halving is to reduce the amount of supply in the market. So how do you think the halving will affect the price of Bitcoin?
How does the halving affect the price of Bitcoin?
- Thread starter Suba
- Start date
Well its definitely going to have some effect on the price. With the reduced supply the demand for Bitcoin will increase and could drive up the price but it is always hard to predict exactly how the market will react
The halving is a process that occurs after a certain group of blocks or more or less 4 years in which the mined bitcoins offered to miners for solving a block are reduced by half, making bitcoin more scarce, thus causing a possible increase in the bitcoin price
The major purpose of halving of the Bitcoin is not to give the Bitcoin miners half the normal reward but to increase the market value of bitcoin very quickly for optimal gain.
That is the exact definition of Bitcoin halving because it will increase the price of Bitcoin tremendously.
A lot of people are expecting the event to take place and it is a long-awaited event.
