Bitcoin Braces for Halving Event While Rallying to New Highs

Bitcoin's next "halving" event occurs between April 18-21, reducing mining rewards from 6.25 to 3.125 bitcoin per block. Historically, halving events have preceded bitcoin price rallies.

Halving events help control bitcoin's supply and occur every 4 years after 210,000 blocks are mined. This will be bitcoin's third halving.

Miners may face narrowing profit margins after the halving due to reduced rewards and increased mining difficulty. However, listed miners have improved balance sheets to weather volatility.

Bitcoin spot ETFs that launched in January have seen huge inflows, raising media attention and allowing wider investor participation. Grayscale's GBTC saw outflows.

Bitcoin recently hit an all-time high near $74,000 and is up 70% in 2023. Related stocks like MARA and RIOT have fallen from recent highs.