Next Bitcoin Halving is about to Happen in 2024 | 10% for @tron-fan-club

There is a mechanism in Bitcoin network that reduces the mining reward every 4 years. It exactly reduces the mining reward by half after every four years. This is called Bitcoin Halving. The Bitcoin halving is an event that occurs approximately every four years. It is an integral part of the Bitcoin protocol. It is designed to reduce the rate at which new Bitcoin is created. The upcoming 4th Bitcoin halving should have significant impact in the crypto industry.

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The halving scheduled to occur after every 210,000 blocks are mined. Every halving cuts the block reward in half. When Bitcoin was launched in 2009 miners received 50 BTC as a reward for each successfully mined block. The first halving in 2012 reduced this reward to 25 BTC and the second halving in 2016 further reduced it to 12.5 BTC. The third halving took place in May 2020 reducing the reward to 6.25 BTC per block. The block reward is set to decrease from 6.25 BTC to 3.125 BTC in next halving. This reduction in the reward has significant implications for miners and the overall Bitcoin supply. It affects the rate at which new Bitcoin is introduced into the market. So it make impact in the balance between supply and demand.

Main impact is in the price of Bitcoin. With the price change of bitcoin the price change of other cryptos. Previous halving events followed by significant increases in the price of Bitcoin. This is often attributed to the reduced supply of new Bitcoin. With low supply demand is created and thus the price goes up. As the mining reward is halved the available supply decreases. So if demand remains constant or increases it can create a supply-demand imbalance and drive the price upwards. Miners profit goes down. To maintain their costing basically price goes high all the time in Bitcoin halving. There will be nothing different in 2024. We are expecting high boast of crypto market in 2024.