By reducing the rewards received by Bitcoin miners by 50%, it drastically reduces the quantity of new Bitcoin that enters the market.
It is planned to occur approximately every four years and cap supply at 21 million by 2140.
As a result, there will only be 450 Bitcoin created every day.
Additionally, there were halvings in 2012, 2016, and 2020; the mechanism for these occurrences was incorporated into the original Bitcoin code.
After the halving, the price of the cryptocurrency stayed steady at $63,747 (£51,531), according to analysts, who said that the expected event had already been factored in.
Nevertheless, investors are anticipating that a large increase is not too far off, given that prior halvings ultimately resulted in big increases.
