What Is The Halving Event?
The Halving Event in Bitcoin is a pre-scheduled reduction in the miner's block reward, happening approximately every 210,000 blocks or roughly every four years. Initiated in 2009 with a reward of 50 BTC per block, this amount has been halved three times, decreasing the reward to 6.25 BTC by 2020. The next anticipated halving, around 2024, will further reduce this to 3.125 BTC. Halvings ensure Bitcoin's limited supply of 21 million coins, affecting both the rate of new coin generation and miner incentives. Past halvings have been associated with significant price movements and shifts in network dynamics.