With less than 10 days left until the next Bitcoin (BTC) halving, during which the reward for mining one block will go down from 6.25 BTC to 3.125 BTC, the event will have major implications for not just the flagship decentralized finance (DeFi) asset but the cryptocurrency market as a whole.
Indeed, with the upcoming BTC halving date narrowed down to April 17, 2024, there are two main things to keep in mind in order to be fully prepared for it, as observed by a team of experts over at the blockchain and crypto analytics platform IntoTheBlock on April 5.
#1 Bitcoin inflation rate
The first is the fact that the block reward dropping from 6.25 BTC to 3.125 BTC will cause the yearly inflation rate to drop to around a mere 0.8%, which means “fewer new Bitcoins entering the market, thus decreasing the potential sell pressure.”
Bitcoin halving and inflation rate. Source: IntoTheBlock
#2 Bitcoin security
At the same time, however, the “miner revenue in USD is at an all-time
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