Bitcoin’s Fourth Halving Is Now Completed

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Bitcoin’s Fourth Halving Is Now Completed

CryptoPotato04-20

Bitcoin’s fourth halving, a highly anticipated event occurring every four years in the cryptocurrency realm, has finally occurred.This event, reducing the Bitcoin block reward from 6.25 BTC to 3.125 ...

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Bons
·04-20
Well due to the popular opinion and fact that every time the halving is done, BTC will surge. I guess we all should ready for the fall of BTC after its halving succesfully done
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Barcode
·04-20
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This reduction will continue until around 2140, when the final BTC is mined.Why Does Bitcoin Halving Matter?The fourth halving, affecting Bitcoin at block height 840,000, holds significance due to its impact on BTC’s volatility, which tends to intensify after each such event. This is primarily because the available supply diminishes, subsequently driving up the value of yet-to-be-mined Bitcoin, making it more appealing to investors.This heightened interest is evident from the substantial volume of BTC moving into accumulation addresses leading up to the event. In the days ahead of the halving, Bitcoin demonstrated massive volatility with price briefly dropping below $60,000 to soaring to $65,000 – all in a week’s time. At the time of writing, the world’s largest cryptocurrency is trading around the latter.Typically, the halving slows the rate of supply expansion, although at the expense of Bitcoin miners, who face a 50% reduction in block rewards. This adjustment may prompt a temporary decline in the Bitcoin network’s hash rate, as miners with older and less energy-efficient hardware may find their operations no longer profitable and opt to shut down.Currently, the network hash rate is hovering above 630 Ehash/s, down by 13.3% from the recently established peak of 727 Ehash/s in March, according to data from BitIinfoCharts. Bitcoin’s mining difficulty also sits at an all-time high of 86.39 trillion following last week’s adjustment, thereby making it increasingly challenging to mine blocks.Satoshi’s Last WordsWith the halving done, Satoshi Nakamoto’s last words before exiting social media channels reverberate through the community. Nakamoto, the mysterious creator of Bitcoin, implemented the halving feature as a safeguard against the perpetual erosion of value in fiat currencies. 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I guess we all should ready for the fall of BTC after its halving succesfully done","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/297139476115552","repostId":1118488345,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":297138443165832,"gmtCreate":1713572342442,"gmtModify":1713572383929,"author":{"id":"4171900329979952","authorId":"4171900329979952","name":"Barcode","avatar":"https://community-static.tradeup.com/news/6688d8fb4c2a255e3b901e79755e56df","vip":1,"crmLevel":1,"crmLevelSwitch":0,"idStr":"4171900329979952","authorIdStr":"4171900329979952"},"htmlText":"Share your opinion about this news…","listText":"Share your opinion about this news…","text":"Share your opinion about this news…","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/297138443165832","repostId":1118488345,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":17,"commentSize":2,"repostSize":3,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}