Monday, 29 August 2022 09:24

What is Bitcoin Halving?

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Bitcoin is a leader among cryptocurrencies, and we dare to say that this asset is an industry’s engine, driving the market trends. Bitcoin’s rate depends on supply and demand, the overall market situation, investors' sentiments, and the complexity of mining.

Bitcoin halving is a significant event that takes place every 4 years. The essence is to cut the coin supply twice. Whenever halving occurs, the inflation rate of Bitcoin is reduced, thus, pushing up the asset’s price.

The previous halving took place in May 2020. That time the reward for receiving one block in the Bitcoin blockchain reached 6,25 BTC. On the day of halving, the BTC rate was $8,787, and it began to increase starting from April 2021. In May 2021, it showed 517% growth.

When Is The Next Bitcoin Halving?

The next Bitcoin halving is scheduled on 2024. The reward for each block successfully received will be cut twice and reach 3,125. The last time when the BTC mining rewards will be cut is 2140. Then the number of coins in circulation will reach its maximum - 21 million.

To track live crypto prices, you can use one of the largest platforms for trading - WhiteBIT. This service operates officially and fits all the KYC and AML requirements.

WhiteBIT offers:

convenient interface, which can be customized;
over 400 crypto pairs;
deposits and withdrawals in fiat;
smart staking;
affiliate program;
margin trading, leverage;
futures;
spot;
p2p;

Besides, the platform provides many educational articles and guides and crypto charts to track live crypto prices. The White Blog is a blog where users can find interesting data on main events in the industry, such as Bitcoin halving, releases of new projects and platforms, tokens, etc. Join the WhiteBIT platform and keep track of the latest news and industry updates.

Published in Technology

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