Bitcoin the highly rated cryptocurrency all over the world is currently undergoing its halving and this automatically have effected a lot of changes because it has large capacity to do that. Undergoing halving on bitcoin has somethings it is pointing out at and this can only be analysed and understood by crypto enthusiast or those that understands the navigation around crypto. Sit tight lets talk about this more.
What is Bitcoin Halving
Bitcoin Halving is a periodic happening in bitcoin network where the total circulation of crypto most especially that which comes from miners are halved. Bitcoin halving happens ones every four years and what we are experiencing right now once happened four years back and in other to complete the circle, this year is making the last halving exactly four years.
Big time bitcoin miners like Bitmain, Canaan Creative, and MicroBT are known for their big time investments in mining of bitcoin. During this process, their are employed methods which involves some technological inputs like robots and many more integrations which these companies uses in mining of bitcoin.
Regardless of the fact that the above mentioned names are the big time miners, there are other mining records of bitcoin which can be traced to individual miners and some mining pools which engage in mining processes.
It is worthy of note that the psychology and technological integrations concerning bitcoin mining is changing in respect to time. With this change, there are pose to more new miners coming in with their sophisticated mining tools and machines and change of routines which change the whole culture of mining and also the volume mined per day.
The Market Scales of Crypto (Bitcoin) Associated with Halving
One of the notable things about bitcoin mining is that the total number of bitcoin mined is divided into half and such this affects the rewards gotten from mining bitcoin even when mined.
With bitcoin been halved, the total number of bitcoin supply is reduced and this invariably leads to scarcity of bitcoin which affects the market price of bitcoin. Now with the scarcity of bitcoin, the price tends to skyrocket forcing bitcoin to increase in price and might hit or near its all time high or set a record in its price. Other bitcoin related coins also would experience another shift in price making us enter the bull season for the moment.
Taking sides before bitcoin halving should be one of the best things one could offer to his or her wallet, so while the halving takes place, scarcity is been created and price pumps making one stand a chance of making it more in crypto space. What happens here is that the same number of bitcoin or coins are been kept but the price takes the wallet to a high value.