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This April 2024, a bitcoin halving will halve the reward given to miners for each validated block. In previous halvings, bitcoin experienced triple-digit price hikes. Create a Bitvavo account through 11Onze Recommends, and we’ll give you €20 to start trading cryptocurrencies!
Bitcoin halving is a scheduled event in which the rewards for mining and verifying new blocks are reduced to 50%, or in other words, miners only earn half the amount of BTC per block mined.
One halving occurs every 210,000 blocks, or approximately every four years. Currently, about 19.5 million bitcoins are in circulation, so there are still 1.5 million bitcoins to be mined before the self-imposed issuance limit of 21 million BTC is reached.
This year’s halving will take place between 19 and 20 April, when the reward will drop from 6.25 BTC to 3.125 BTC per block. At the same time, it will reduce the inflation rate of the cryptocurrency and is expected to have a positive effect on the price of bitcoin.
The halving contagion effect
This enthusiasm for BTC halving may lead to more investment in altcoins because investors are more optimistic about the possible price growth of other cryptocurrencies.
The prices of other assets have already been dragged up by the recent Bitcoin price rise. The Solana and Avalanche blockchains have experienced a significant increase in value. As is the case of meme coins, which have reached the top 100 cryptocurrencies by market capitalisation.
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Equip Editorial 
