Bitcoin Halving

Bitcoin halving is an event in Bitcoin blockchain that will happen every 4 years or every 210000 blocks.Whenever bitcoin halving happens the bit rewards will reduce half to previous rewards. 

The first bitcoin halving event was happened in November 2012, Before that the mining rewards were 50Btc per block.After the first halving event happened the rewards for the miners reduced to 25 BTC. 

The second bitcoin halving event happened in 2016 and the mining rewards again reduced to 12.5btc from 25 BTC for miners.The third bitcoin halving event just happened before a month (May 2020) and the mining reward again reduced to 6.25BTC from 12.5 BTC.

Bitcoin halving is a protocol and its created in the blockchain as default when the bitcoin founder found bitcoin. Its because to keep up the bitcoin demands more this was created as a protocol.

As per the previous halving events whenever the bitcoin price went up to 20000$. So after this 3rd bitcoin halving event bitcoin may go up to 30000$ soon.

So the bitcoin demands will go high, at the same time the miners will get rewards low. So basically halving is an event is making half reward for bitcoin miners. Now you have some ideas about what is bitcoin halving and why it's happening. Give your valuable feedback for this article.