It's a matter of days before the next Bitcoin's halving following the news from monitoring Bitcoin halving countdown tool. And more people seem to be talking about this year's halving than the previous ones.
There's been conversation that this year's halving will be different in some ways, largely because of Bitcoin Spot ETF approval. But I'm wondering why a non Bitcoin miner like myself should care so much about the Bitcoin Halving except that I've seen some CEX rolling out events like I BTC treasure chase for traders and others. While we earn from events as such, what's else.
It's clear Bitcoin Miners are at present earning 6.25 BTC from new block they create and that reward will be reduced to 3.125 BTC from my readings. So how does making BTC scarcer benefit crypto traders generally?
How is everyone else preparing for the halving? Please share.
Yeah, Bitcoin halving is definitely a big deal in the crypto world. For us regular crypto traders and holders who aren’t mining, the halving mainly matters because it can affect Bitcoin’s price. The basic idea is that when the reward for mining Bitcoin halves, it becomes scarcer since fewer new Bitcoins are being generated. This scarcity can potentially drive up the price if demand remains steady or increases.
As for how it benefits us directly, a higher Bitcoin price could mean higher portfolio values, and if you’re trading, it might offer some good opportunities to capitalize on price volatility. Plus, with events like the BTC treasure chase you mentioned, there’s a chance to engage more with the community and possibly snag some extra earnings.
Personally, Im keeping an eye on the market trends and planning to adjust my trading strategies around the halving. Might also beef up my holdings a bit if the price dips before the halving.