[ad_1]
The event that Bitcoin investors have been waiting for months has now occurred: The block reward for mining the cryptocurrency has been cut in half tonight. This is how the Bitcoin course beats after the halving event.
The time had come Monday night: A total of 630,000 blocks were now generated on the Bitcoin network, sparking the long-awaited halving event. In the future, miners will only receive 6.25 bitcoins as a reward for generating new blocks instead of the previous 12.5 bitcoins. According to experts, this halving of the block reward will also have a long-term impact on the price of Bitcoin. Shortly after the halving event, Bitcoin is currently trading at $ 8,558.44, barely changing from the prior period.
Display
Buying Bitcoin is quite complicated and time consuming.
»»
Here you can easily buy and sell Bitcoin
In the lead-up to the big event, the most important cryptocurrency was very volatile. For example, a bitcoin cost over $ 10,000 again on Friday night for the first time since February. However, over the weekend, the bitcoin price plummeted again and the cyber currency dropped back to $ 8,520.
That happened with bitcoin’s halving
The halving of the block reward is firmly anchored in the Bitcoin code and always takes place when 210,000 new blocks have been generated in the Bitcoin network. This is the case every four years, so the halving event took place for the third time this year after 2012 and 2016.
The “miners” who provide the computing power of their computer to generate new blocks of data on the Bitcoin network, which are necessary to record transactions with the cryptocurrency, receive a certain amount of Bitcoin as a reward for each block generated. Originally, this was 50 bitcoins, but it shrinks with each halving event and is now only 6.25 bitcoin.
Halving the block reward, among other things, ensures that the specified maximum amount of 21 million bitcoins is not reached as quickly. On the other hand, inflation in the cryptocurrency should be avoided, since after halving the amount of bitcoins available it increases more slowly, while the demand remains the same or, due to the increasing popularity of the digital currency, it even increases. Therefore, many investors expect a price increase in Bitcoin after the halving event. With at least the two previous Bitcoin halves, the Cyberdevise could later benefit and temporarily grow strongly.
Editorial office finanzen.ch
Image source: Igor Batrakov / Shutterstock.com, Adrian Today / Shutterstock.com, Lukasz Stefanski / Shutterstock.com
[ad_2]
