JuSun
Bitcoin (BTC-USD) is a little ways away from undergoing a once-every-four-years software update in the blockchain that has historically been hyped as a positive catalyst for the highest-profile cryptocurrency.
The quadrennial halving event, due as soon as Friday, occurs when bitcoin (BTC-USD) miners’ reward for validating transactions is slashed in half, essentially reducing the rate at which new tokens are created by 50%. As such, the technical event reduces the supply of new bitcoins entering the market, a move that could drive up the coin’s price should demand remain constant or rise.
And, given the fixed supply of 21M bitcoins (BTC-USD), the halving event reinforces scarcity by reducing the rate at which new BTCs are introduced into circulation.
If history serves as a guide (that is, the halving has preceded big price gains), the event could boost the price of bitcoin (BTC-USD) to more than $115K, crypto…
