Photo by André François McKenzie on Unsplash
Around April 2024, Bitcoin will experience the next “halving event.” It’s a four-year occurrence that started in 2012. It slows down the Bitcoin mining process by halving the reward that Bitcoin miners receive. In 2016, miners earned 12.5 bitcoins; in 2020, it was reduced to 6.25 coins.
The maximum number of bitcoins that can be mined is 21 million. That will occur in the year 2140. Morgan Stanley recently stated, “Historically, most of Bitcoin’s gains come directly after the halving. This bull-run period starts with the halving event and ends once the bitcoin price hits its prior peak.” We will see if this pattern repeats again.
