Upcoming Bitcoin halving

I know by this time you must have heard about the upcoming Bitcoin halving event, the anticipated Bitcoin halving can be defined as a once in a four year program in the Bitcoin ecosystem whereby halfe the amount of Bitcoin in circulation would be removed from circulation.

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If you studied chemistry you would be used to the term known as half-life of a substance, halving mechanism is derived from that terminology. Half-life in chemistry has to do with the process where by at a particular time a chemical, compound or substance loses half of its quantity, whenever that time comes half or the remaining half would be lost till there is notice left.

During this halving Bitcoin miners rewards would also be slashed in to equal half, same way the slashed Bitcoin would be taken away from circulation. According to economics demand and supply laws, when the supplies are reduced demand are higher therefore causing in spike in price.

So therefore you should understand why it's the talk of the town, now because of how popular they would also be a spike triggered by the fundamentals news, so therefore making next year a year to cash out big money.

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Benefits of Bitcoin Halving

The Supply Control:

Bitcoin halving causes an important role in monitoring the total supply of new Bitcoins in market circulation. By slashing the validators mining rewards, the rate in which new Bitcoins are supplied and circulated would drastically reduce, so therefore causing a good reduction in the total supply generation as time goes in.

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• Demand:

As I have said earlier the reduction of supply would drastically improve the demand of Bitcoin in the crypto market, so therefore controlling the total supply in the crypto market. The incredible increase in demand would make Bitcoin turn into a hotcakes, therefore causing it to reach new high high in the crypto market.

• Mining potential:

The halving of Bitcoin is really important because it also affect the mining aspect of the the Bitcoin blockchain because Bitcoin is seen as the father to other blockchain. When miners reward or validators reward are halved they would strive to work harder and better to get same amount of Bitcoin the get before.

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Impact on the Halving Bitcoin

• Price Volatility: According to past experiences, Bitcoin halving actions have always been tremendously trigger higher price volatility, because the demand becomes higher than ever. Also investors and traders do anticipate to. Paticipate in this event making the market very volatile to traders.

• Network Security:

Even though there is a reduction mining rewards, Bitcoin's network security would still been robust because they miners would continue to do their jobs like validation of transactions and securing Bitcoin Blockchain network.

• New Millionaires:

As I've said before bitcoin halving would reduce the supply of Bitcoin in the market so therefore increasing a demand and whenever the demand is so high the price is seen increasing tremendously, so therefore multiplying profit of Bitcoin holders and other hot coins that were built on Bitcoin blockchain. Making everyone richer and better than the way in the past because of the new price of Bitcoin after the Bitcoin halvin.

• New Investors:

Whenever someone who is quite wealthy and want more wealth hears about this update of Bitcoin halving and it's advantages this person tends to jump into the Bitcoin market in order not to lose or miss out in this great opportunity so therefore in this way bitcoin halving have brought more investors to invest about the upcoming Bitcoin halving .

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In Conclusion

In conclusion the famous bitcoin halving would be a great event and experience around in the crypto market and to just surprise it is happening next year which is 2024 hope you don't miss out in this great opportunity to change your life