Bitcoin Halving Countdown Begins
The Bitcoin halving event, which occurs every four years, is approaching in 2024. This process cuts the mining rewards for Bitcoin miners in half, making the cryptocurrency scarcer over time. Previous halvings in 2012, 2016, and 2020 have historically been followed by new all-time highs in Bitcoin's price. The upcoming halving in 2024 will reduce the mining reward to 3.125 BTC per block, intensifying competition among miners and driving efficiency improvements across the industry.