- Changpeng Zhao signals that the fourth Bitcoin halving is expected to take place in the first week of April 2024.
- Bitcoin halving is an event that reduces BTC mining rewards by half, decreasing the rate of new supply.
- Analysts anticipate a bullish trend for Bitcoin following the halving event.
In a recent X post, Binance CEO Changpeng Zhao shared a screenshot of a countdown to the much anticipated Bitcoin halving. According to the countdown, the fourth Bitcoin halving will take place in the first week of April 2024.
#Bitcoin halving soon. pic.twitter.com/xp4mWyMKkD— CZ Binance (@cz_binance) November 19, 2023
Bitcoin halving is an event that reduces block rewards by half, meaning miners will be competing to create new blocks in the blockchain in return for a dwindling supply of fresh bitcoins. This process is hardcoded into the Bitcoin blockchain, and takes place approximately every four years. The screenshot shared by Zhao showed that the next halving is expected to take place 135 days from November 19, 2023.
Source: X
The first Bitcoin halving took place in 2012 when the block rewards were cut down from 50 BTC to 25 BTC. In 2016, the second Bitcoi…
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