Bitcoin Halving Imminent: Block Reward to Halve, Price at $69K

Apr 19, 2024, 07:34 AM

The Bitcoin community is closely monitoring the countdown to the cryptocurrency's next halving event, anticipated to occur on April 20, 2024. This significant event, occurring approximately every four years, will reduce the Bitcoin block reward from 6.25 to 3.125 BTC, effectively halving the rate at which new bitcoins are created. Historically, such events have led to major price fluctuations and are viewed as pivotal moments that could influence Bitcoin's value due to the reduced supply. The halving is a core mechanism of Bitcoin's protocol, designed to control inflation and extend the currency's distribution timeline. With less than 100 blocks remaining, the current Bitcoin price is around $69K.