The ‘halving’ — bitcoin bros’ World Cup — is nigh
CNN
Put simply, the halving is an automatic 50% reduction in the number of bitcoin entering circulation. That should, in theory, push the value of bitcoin higher.
The quadrennial “halving” is almost upon us. And while that may sound like some kind of pagan ritual or horror movie title, it’s actually a pretty mechanical operation that’s hardcoded in the design of bitcoin. Put simply, the halving is an automatic 50% reduction in the number of bitcoin entering circulation. That should, in theory, push the value of the cryptocurrency higher while keeping its inflation in check. The halving is the World Cup for crypto believers. It happens every four years, and emotions run high. “Guessing the endgame for Bitcoin after each halving is the ultimate sport,” said Antoni Trenchev, co-founder of crypto lender Nexo, in a statement. “If the previous halvings are anything to go by, it should take no longer than eight months for Bitcoin’s price to double in value.” That is a decidedly bullish view, but not an uncommon one among the bitcoin faithful.
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