Have you heard of Bitcoin halving? It has become a current phrase on blockchain within the past few weeks. Simply put halving is the same thing as reducing something by half, that is, by 50%. This is done by reducing Bitcoin miningblocks are halved.
This occurs periodically, within the space of every 4 years, when it happens, bitcoin mining blocks are halved. It is on record that only 21 million will be generated, this means that when this number is mined there will be no other available bitcoins to be mined.
With over 16 million bitcoins in circulation, it means that there are over 4 million bitcoins to be mined. In halving, the remaining ratio will be further reduced by half.
Every halving comes with an increase rate of mining fees, a growth in the price of Bitcoin to all-time high rates, and scarcity of Bitcoin.
In view of all these factors associated with bitcoin halving, so many people are buying and accumulating Bitcoin. The last halving in 2017, made many people millionaires, the bitcoin price rose to an all-time high rate of $20,000.
The next bitcoin halving is expected to occur on the 18th May 2020. How are you preparing for the scarcity and rise of rate? I advise all those who have the resources to invest in Bitcoin, you will not regret it.
