The Bitcoin halving is expected to happen in approximately 37 days from now however it is exactly dependent upon the block. The count of days is approximate and the halving will happen on the particular Genesis block so we can expect a little more fluctuation in the time for the event.
This is an important event in the world of crypto and Bitcoin. I hope many of you are aware of what will happen in this Bitcoin halving event. If you're not aware then I'm happy to explain here that it is an event where the minor reward will be reduced by 50%.
In April 2024 the block reward will be reduced from 6.25 Bitcoin per block to 3.125 Bitcoin per block
Currently, this reward is 6.25 Bitcoin and after the halving, it will be 3.12 Bitcoin per block. Now the question is why would minor work for Bitcoin when their rewards are going to be reduced by 50%? It will reduce their obvious profitability but the thing is till now we have seen the price growing significantly after the halving cycle.
The cost of Bitcoin will increase once this reward reduces and even now we can see how bitcoin is going up. Bitcoin has already crossed its all-time high price and now it is expected that it will grow even more but if it does then for sure it has changed the historical trend. Earlier every time during the halving cycle price used to crash and after the cycle within the same year we saw how Bitcoin reached its next all-time high.
Undoubtedly the market is in better sentiment and it is the time when we need to make our positions and wait for the right opportunity to book some profit. I believe that booking a profit is important no matter what you plan with Bitcoin because ultimately if you don't book the profit somebody else will do it. Some people have long-term goals which I think is fair but even with the long term you need to book profit with a certain percentage so that you can play well in this market otherwise, the profit will be visible only in digits but you will never have it in your account.
Thank you so much for stopping by and if you like my content then please vote and share your thoughts in the comments section
10% beneficiary to Tron-fan-club