World News 20 Nisan 2024

Bitcoin's highly anticipated 'halving' event takes place

Bitcoin's highly anticipated 'halving' event takes place

Bitcoin’s rare halving event has taken place, according to crypto analysis firm CoinGecko.

It slashes the number of new Bitcoin entering the market by cutting the rewards earned by Bitcoin miners by 50%.

Taking place roughly every four years, it’s designed to cap supply at 21 million by 2140.

It means just 450 Bitcoin will now be created each day.

Halvings also took place in 2012, 2016 and 2020 – and the mechanism was written into Bitcoin’s code when it was first created.

The cryptocurrency’s price remained stable at $63,747 (£51,531) after the halving, with analysts saying the anticipated event had already been priced in.

Investors will be hoping a big increase won’t be too far away though, after previous halvings eventually led to significant gains.

The price at the May 2020 halving was around $8,600, but a year later it surged to over $56,000.

Andrew O’Neill, a crypto expert at S&P Global, said he was “somewhat sceptical of the lessons that can be taken in terms of price prediction from previous halvings”.

“It’s only one factor in a multitude of factors that can drive price,” said Mr O’Neill.

Please use Chrome browser for a more accessible video player

Inside China’s secret Bitcoin farms

Bitcoin hit a new high of $73,803 (£59,661) in March after rising 175% over the previous 12 months.

It also received a boost in legitimacy in January when funds (ETFs) holding Bitcoin were allowed to be traded on the US stock exchange.

Read more:
Why Bitcoin has suffered a sharp pullback from record highs
Computer scientist not mystery Bitcoin inventor, judge rules

Bitcoin's highly anticipated 'halving' event takes place
Follow Sky News on WhatsApp

Keep up with all the latest news from the UK and around the world by following Sky News

Tap here

The mainstream financial industry has traditionally viewed Bitcoin as extremely high risk and prone to unpredictable and dramatic price swings.

Bank of England governor Andrew Bailey warned in 2021 that cryptocurrencies have “no intrinsic value” and investors should be “prepared to lose all your money”.

He also told MPs in January that crypto was “pretty inefficient” and still “not taking off as a core financial service”.

More than 19.5 million Bitcoin have now been mined, leaving just 1.5 million able to be mined over the next 116 years.

The halving takes place every 210,000 “blocks” – which normally works out around every four years.

source

Spread the love <3

You may also like...

Mar
03
2024
8
Yapay zeka tehlikeli mi? ChatGPT CEO’sundan şaşırtan yapay zeka yorumu!

Yapay zeka tehlikeli mi? ChatGPT CEO’sundan şaşırtan yapay zeka yorumu!

Son dönemde teknoloji dünyası adeta yapay zeka ürünleriyle donatıldı. Şirketler, büyük yatırımlarla yapay zeka alanında dev girişimlere imza atıyorlar. Henüz...

Spread the love <3
Nis
25
2024
0
EduTip 20: Don&#039;t give out your slides.

EduTip 20: Don't give out your slides.

Many teachers give out copies of their slides as a supplement to a lecture or presentation, but this practice leads...

Spread the love <3
Haz
07
2024
0

Uygun fiyatlı CMF Phone 1’i onaylandı! İşte özellikleri

Nothing, alt markası CMF’nin ilk akıllı telefonu için çalışmaları tamamladığını duyurdu. CMF Phone 1 olarak adlandırılacak model, uygun fiyatlı akıllı...

Spread the love <3
Tem
26
2024
0

Büyük sızıntı: Google Pixel 9 serisinin tüm detayları ortaya çıktı!

Google Pixel 9 serisi için artık çok kısa bir vakit kaldı. Bugün şimdiye kadar yayınlanan en büyük sızıntıyı paylaşan OnLeaks,...

Spread the love <3
Whatsapp İletişim
Merhaba,
Size nasıl yardımcı olabilirim ?