Bitcoin Halving Event Triggers Concerns Amid Price Surge Expectations

The recent bitcoin halving event, occurring approximately every four years, automatically reduced the issuance of the cryptocurrency by half.

This technical adjustment affects bitcoin miners who validate transactions, cutting their rewards in half after every 210,000 blocks added to the blockchain.

The event historically triggers significant price rallies for bitcoin, preceding bull runs and attracting new investors to the market.

With numerous miners, both public and private, constantly processing transactions to earn bitcoin, the halving directly impacts their rewards.

Despite the initial reduction in rewards, the subsequent price surges typically help miners offset losses, CNBC reported.

READ MORE: https://www.cnbc.com/2024/04/21/bitcoin-miners-get-into-ai-to-survive-halving.html

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