What happens to crypto market After Bitcoin Halving?

Bitcoin is distributed through mining. The 21 million bitcoins in existence are scheduled to be mined through the year 2140. That is, the last bitcoin is expected to be mined in the year 2140. At the current rate of emission, the unmined bitcoin will be exhausted before this speculated time. Almost 90% of bitcoin’s total supply has been mined. About 900 bitcoins are mined per day, currently.

To sustain the emission and increase scarcity, the number of bitcoin emitted per block is regularly reduced. This process of reducing the bitcoin emission per block is known as Bitcoin Halving.

After a predetermined block height (a number that is used to indicate a particular block), the amount of bitcoin emitted per block is reduced to half of the previous number. For bitcoin, new halving occurs after an interval of 210,000 blocks or 4 years.

The most recent (2020) halving reduced bitcoin emission from 12.5 bitcoin per block to 6.25 bitcoin per block. This means that instead of 12.5 bitcoins, miners will now be rewarded with 6.25 bitcoins per block mined.Bitcoin halving is a significant event in the world of cryptocurrency, specifically in the Bitcoin network. It refers to the process where the reward for mining Bitcoin transactions is cut in half approximately every four years. Watch this report to know more.

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