Little knowledge about the currency circle:

1. Bitcoin’s halving cycle: The halving mechanism will cause the number of newly mined Bitcoins to decrease. Halvings occur every 210,000 blocks, creating a four-year price cycle. The first three halvings occurred in 2012, 2016 and 2020 respectively. “The total issuance of Bitcoins will be 21,000,000. They will be distributed when network nodes generate blocks, and will be halved every four years. 10,500,000 coins will be distributed in the first four years, and 5,250,000 coins will be distributed in the next four years, Over the next four years 2,625,000 coins will be distributed, and so on..." - Satoshi Nakamoto, Cryptozoology Mailing List, January 8, 2009.

This event reduces miner profitability because miners use custom hardware (Application Specific Integrated Circuits, ASICs) to process transactions. According to CoinDesk, mining a block profitably will cost at least $10,000 to $15,000 in 2023. After the halving, the cost could soar to $40,000 per coin.

2. Bitcoin Halving Time in 2024: The reward will be reduced from 50 Bitcoins to 6.25 Bitcoins per block, and will be further reduced to 3.125 Bitcoins on April 19, 2024. You can check the countdown using the Bitcoin Halving Countdown Chart.

3. Impact on price: In the context of the Bitcoin halving: While the concept of scarcity is important, there are other factors at play besides supply contraction. In theory, falling inflation should boost demand, but the actual price impact is likely to be limited.

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熱點：Bitcoin CYCLE