Bitcoin has successfully passed its fourth Halving

lupafilotaxia (74)in Project HOPE • 13 days ago

The day has come and the Bitcoin halving has been completed, which will undoubtedly mark a before and after in the price action and the massive adoption of Bitcoin, considering that this context arises just a few months after the approval of ETFs for BTC, so the expectations about what will be happening in the following weeks continue to grow.

According to Ciaran Lyons, "Bitcoin (BTC) has successfully passed through its fourth halving after reaching its 840,000 block, at which point mining rewards are halved once again.The crypto community is eagerly awaiting what's next for the Bitcoin price, with some predictions reaching as high as USD 250,000."

It should be noted that, "The last three halvings occurred in 2012, 2016 and 2020, causing significant declines in mining rewards over time. The first Bitcoin halving occurred in 2012 when the reward for mining a block was reduced from 50 to 25 BTC"

On the other hand, "Major Bitcoin miners have been gearing up for the event. Marathon Digital recently announced plans to acquire a 200 megawatt (MW) Bitcoin mining facility in Texas for USD 87.3 million."

Also noted, "Bitcoin halving is a key event that historically signals a change in the market, usually initiating an uptrend in the following months. As we approached the fourth halving, anticipation grew, suggesting a continued upward trajectory, albeit slightly more subdued"