For the first time in nearly four years, and for only the third time in its 11-year history, bitcoin is about to undergo a seismic shift to its technological foundations. The halving event will not only affect how bitcoin is created, it will likely also have a significant impact on the entire cryptocurrency market.

Scheduled to take place next month, the event all stems from bitcoin's unique digital design. Unlike traditional currencies, the number of bitcoins that will ever exist is fixed. The mathematical code underpinning the cryptocurrency means that only 21 million bitcoins can ever be produced and no amount of quantitative easing can artificially inflate this.

More than 18 million bitcoins have already been produced through a process called mining, whereby new units of the cryptocurrency are generated by networks of computers programmed to solve complex mathematical puzzles.



The imminent halving of bitcoin, however, is about to make this process considerably more difficult.

What is halving and why is it necessary?
The halving event, sometimes referred to as “the halvening”, is essentially the opposite of quantitative easing – so much so that some crypto enthusiasts refer to it as quantitative hardening.

As the name indicates, the halving cuts the production of bitcoin in half in such a way that mining the cryptocurrency only generates 50 per cent of the yield it used to.

Bitcoin suffered a price drop of $1,458 in under an hour on Sunday. The sudden slide caught many traders off guard, forcing out a significant amount of buying pressure from the market.

Bitcoin suffered a price drop of $1,458 in under an hour on Sunday. The sudden slide caught many traders off guard, forcing out a significant amount of buying pressure from the market.

I think yes dude, it is because based on the Bible in the book of Revelations that someday money will no longer be useful at all.
And I guess this digital currency will replaced by it then everything in the world will be pay via virtual money like this Bitcoin We are talking about now, but this was just based on my own understanding and opinion only.

Yes, I think so. Because payment using bitcoin is very easy. and the transfer fee is also very cheap.

I think Bitcoin is the best choice for now, because the Bitcoin price is coming down for now.

Bitcoin, crypto derivatives and DeFi continue to be hot in late July.

Bitcoin (BTC) trading around $11,236 as of 20:00 UTC (4 p.m. ET). Gaining 2% over the previous 24 hours.
Bitcoin’s 24-hour range: $10,844-$11,312
BTC above 10-day and 50-day moving averages, a bullish signal for market technicians.
Read more: https://www.coindesk.com/market-wrap-bitcoin-sticks-to-11000-derivatives-defi-keep-growing

I'm not sure the existing altcoin can break the bitcoin record so far. Because Bitcoin has the highest value on the crypto market.