Bitcoin Price Prediction as ‘Bitcoin Halving’ Executes Successfully

Bitcoin, currently trading at $63,999 with a 3.50% increase post-halving, introduces a supply squeeze that might kickstart a new bull market.

The event cuts the mining reward from 6.25 to 3.125 bitcoins, underpinning Bitcoin’s strategy to cap its total supply at 21 million coins.

While the halving aims to increase scarcity and potentially boost prices, the immediate market reaction has been subdued, with Bitcoin stabilizing around $64,000. 

Bitcoin Halving: A Supply Squeeze Shakes Up the Market

The fourth Bitcoin halving took place late Friday at block height 840,000, marking a pivotal change in the cryptocurrency’s supply dynamics. This event, occurring approximately every four years, reduces the mining reward from 6.25 to 3.125 bitcoins.

Such reductions are part of a predefined strategy to limit the total supply of Bitcoin to 21 million, enhancing its scarcity by halving the influx of new coins into circulation.

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