On April 20, a significant event took place in the Bitcoin network – the fourth halving of the block reward in the history of the first cryptocurrency, also known as halving.
About this write NoWorries.
The halving took place on block 840,000. This means that the miner who mined the next block (#840,001) received 3.125 Bitcoins instead of 6.25 as it has been for the past four years. As a result, the daily Bitcoin emission is expected to be halved, from 900 BTC to 450 BTC, and the annual production will drop to 0.85% of the total number of coins (21 million).
So far, about 93.7% of Bitcoin has been mined. According to the idea of Bitcoin creator Satoshi Nakamoto, the halving should lead to a growing scarcity of the first cryptocurrency, which, according to the laws of the market, should stimulate the growth of its price.
However, analysts of the JPMorgan investment banking holding have a slightly different opinion. On the eve of the halving, they released a forecast that, contrary to the expectations of optimists, Bitcoin may drop in price immediately after the event.
