New York, April 20 (TASR) – The Bitcoin network has successfully undergone its fourth halving, reducing the reward for mining blocks by half. This event, which took place on Friday evening (April 19), lowered the reward from 6.25 bitcoins to 3.125 bitcoins per block.
What is halving?
Halving is a process in the Bitcoin network that occurs approximately every four years and involves automatically reducing the reward for mining blocks by half. This helps to regulate the total supply of bitcoins and prevent inflation.
Impact of halving on Bitcoin price
The impact of halving on Bitcoin price in the short term is usually negligible. However, many investors expect the price to rise in the following months, similar to what happened after previous halvings.
Key points:
- Halving:Â The Bitcoin mining reward has been cut in half.
- Price:Â Bitcoin price dipped before the halving but has risen slightly since.
- Long-term impact:Â Investors expect the price to rise in the coming months.
