2024-04-14 20:35:45
Between April 19 and 21, Bitcoin is expected to begin a new cycle.
Crucial week for Bitcoin, which will experience a new “halving” between the 19th and 21st. Understand by this a reduction in its “production”.
Bitcoin actually uses a “proof-of-stake” transaction validation system. With this model, miners “validate” blockchain transactions and are rewarded with the “produced” Bitcoins. The system was designed as such when it was created by Satoshi Nakamoto, the creator of Bitcoin whose identity is still unknown.
Every 210,000 blocks “mined”, the reward received by miners drops. If, originally, miners received 50 BTC per mined block, the reward has continued to fall. Currently, miners receive 6.25 BTC every time a Bitcoin is mined. Between April 19 and 21, this reward will increase to 3,125 BTC.
This reduction in Bitcoin production has to date always impacted the price. Because “miners” resell their winnings quite quickly on the main exchange platforms, and thus ensure a continuous flow of BTC for sale. Each “reduction in pace” therefore tends to cause prices to rise, given that there are fewer new Bitcoins on sale… And it is precisely this “halving” which generally signals the start of the new bull market , or “bull market”. Historically, the prices of BTC and other cryptocurrencies have always soared following a halving. All eyes are therefore on BTC this week, which might once once more begin a new spectacular surge.
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