Bitcoin Faces Critical 'Halving' Event in 2024, Impacting Miners and Potentially Price

Bitcoin "halving" is an event every 4 years where the reward for mining new blocks is cut in half. The next one is expected in April 2024.

Reducing the mining reward over time makes Bitcoin's supply more scarce, which could increase its value.

Miners receive less revenue from mining after the halving events, which may cause some to leave if unprofitable.

Historically, Bitcoin's price has surged around halving events due to speculation and anticipation.

As mining rewards decrease, Bitcoin's network security is impacted. Lower rewards mean fewer miners, leading to a reduced computing power securing the network.