Every four years, the world observes the Summer Olympics, the U.S. presidential election, and the much-anticipated bitcoin “halving” event.
The next bitcoin halving, or “halvening,” is expected to occur on April 20 at 11 a.m. Eastern time, and experts say this could have major implications for the cryptocurrency market.
What is the ‘halving’ event?
The bitcoin “halving” event refers to a point when the reward allotted to bitcoin miners is cut in half. Occurring roughly once every four years, the halving is designed to facilitate scarcity in the cryptocurrency.
Approximately every 10 minutes, 6.25 BTC, currently worth over $400,000, is awarded to the miner who validates the most recent “block” of transactions. The data from each block are strung together and distributed to every computer running a node. This forms what is
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