One of the most anticipated events in the crypto market has finally taken place today. The Bitcoin Halving event has successfully occurred, cutting the block reward in half.
Bitcoin has officially halved at block 840,000, which reduces the block reward by half to 3.125 BTC per block.
The Halving is an event that happens every four years. It first occurred in 2012, then again in 2016 and for a third time in 2020, and now again in 2024. Each Halving has had major implications for the cryptocurrency industry.
Parties that will be directly impacted by this event include miners and mining companies.
The big question now is, how will the Halving impact the price of Bitcoin and the crypto market in general? Only time will tell what kind of impact and significance this will have.
Investors should keep a close eye on the potential impact of the Halving on the market. There have been mixed opinions about what the Halving will mean for the market. Crypto.com CEO Kris Marszalek said that the Halving is unlikely to trigger a bull run. However, he also expects to see “very strong performance over the next six months.”
Another prediction came from JP Morgan. The banking giant stated that this year’s Halving will be different than previous ones, specifically saying that it will not be a major price driver for BTC.
The presence of newly approved spot Bitcoin ETFs in the US and Hong Kong also adds another layer of intrigue. How these investment products react will be closely watched by many who are hoping for the best from BTC in the long run.
