Bitcoin went through halving
Recently, everyone has been talking about Halving Bitcoin. Many subtleties are associated with this momentous event, they have been talking about halving since the beginning of 2020, and now, finally, this event took place. We also wrote repeatedly about the possible consequences and prerequisites of the halving, and we promised to inform you when it comes. Tonight the halving took place and now everyone is wondering: what will happen next? That is why we will further describe how and what to do to transfer halving with the maximum benefit for ourselves and our capital.
What does the event mean?
First of all, you need to find out what, in principle, means halving. Of course, a decrease in mining rewards. Every 4 years, Bitcoin reduces the number of coins mined, these algorithms are laid down by the creator of the coin and are necessary so that the cryptocurrency remains relevant. If yesterday you received 12.5 BTC for the mined block, now only 6.25 coins are charged for crypto mining. The reduction of the award traditionally took place on a round figure. The event occurred after the miners processed block No. 630000. The honor to get the sign block fell to the AntPool miner, who still remains one of the most relevant devices for mining the first crypto.
Note that just a few hours before the start of the halving, industry users mined twice as many coins as usual. This is absolutely understandable, because all the miners sought to get more cryptocurrency for a high price. Now you will never get 12.5 BTC for crypto mining, which is why miners tried to earn in the last hours. Halving also directly affects the price of the crypt. Due to the sharp increase in mining rates, the value of the coin began to grow, but could not gain a foothold at the level of 9000 dollars. Let’s discuss the long-term effects of mining and its role in your work.
How will halving affect ordinary users?
Let’s highlight several aspects of the crypto industry that will be affected by halving:
- Mining. To earn the previous amounts, the owners of farms and ASIC devices began to actively mine cryptocurrency even after mining. Contrary to all forecasts, the decline in production did not occur. Now the crypto is processed faster, new coins are more likely to come to the owners, which will positively affect the pace of mining. However, competition will grow and mining crypto will become somewhat more difficult. If you want to start, start today, before it is too late;
- The price of the first cryptocurrency. The level of mining has grown, which means that transactions are processed faster and it is more profitable for people to use Bitcoin for urgent transfers. Due to the growing demand, the number of transactions is increasing, people are buying coins more actively, which means that the crypto starts to grow in value. Consequently, halving will positively affect the cost of BTC;
- Other coins. Bitcoin is so serious that it affects even third-party cryptocurrencies. For example, after the BTC mining reward declined, users began to actively mine similar coins like Bitcoin Cash. It is likely that new clients of this bold platform will not leave the project and will continue to support the coin. The obvious plus;
Now you know how to react to such an event as halving the first cryptocurrency. No need to be nervous, this is a natural event, the consequences of which, however, will affect everyone. Carefully follow the first coin and find out all the news of the crypto industry with us. We publish only high-quality and interesting material. Good luck and success!