Bitcoin Is Now Half Way From its Next Halving as Hashrate Marked ATH
Bitcoin halving occurs every four years. With BTC’s supply rate decreasing 50% after each one, the system will continue until roughly 2140, when the last Bitcoin is mined.Bitcoin has crossed the halfway line of its third halving, which the community sees as a bullish sign for its price since the issuing rate is reduced by 50%.
After Block 735,000 was mined on Thursday by Poolin, earning 0.16215354 BTC ($6,402.45) in fees, Bitcoin officially entered the second half of the third halving cycle. This one – like any other in the past or the future – has 210,000 blocks available to be mined, and half of them, 105,000 blocks, have been mined since May 11th, 2020.After the next halving, currently scheduled to take place in Q2 2024, Bitcoin’s supply rate will decrease by 50%, likely causing another “supply shock.” Currently, roughly 90% of the 21 million BTC has been mined.
Source
@CryptoWorldAnalysis
