Excitement is building in the cryptocurrency community as Bitcoin (BTC) and Bitcoin Cash (BCH) prepare for their respective halving events.
Excitement is building in the cryptocurrency community as Bitcoin (BTC) and Bitcoin Cash (BCH) prepare for their respective halving events.
With these long-awaited milestones on the horizon, investors and enthusiasts are eagerly counting the days until the reward for mining, along with its inflation rate, is cut in half.
Halving events, which typically occur every four years for both Bitcoin and Bitcoin Cash, are programmed into the protocols of these cryptocurrencies as a way to control inflation and supply entering the market.
By cutting mining rewards in half and then slowing the rate at which new coins are generated, halvings serve to increase scarcity and establish a deflationary supply model, often putting upward pressure on coins. prices.
Bitcoin Halving Countdown
For Bitcoin, the next halving event is expected to occur in April 2024, when the block reward for miners will be reduced from 6.25 BTC to 3.125 BTC per block.
This reduction in reward for Bitcoin miners is anticipated to have a significant impact on Bitcoin supply dynamics, which could increase demand and drive up prices.
OKLink, the multi-chain blockchain and cryptocurrency explorer, offers the current countdown to the Bitcoin halving event in 42 days and 10 hours, with an estimated date of April 20, 2024. The remaining blocks left for this event there are currently 6,114.
Bitcoin Cash (BCH) Halving Countdown
Similarly, the Bitcoin hard fork, Bitcoin Cash, is also preparing for its halving event, which is also scheduled for April 2024, although earlier than the Bitcoin halving event.
According OKLink, the Bitcoin Cash halving event is expected to occur in the next 26 days, with a countdown of 26 days and 9 hours at the time of writing. The expected date for the BCH halving event is April 4, 2024.
At that time, the block reward for miners will be halved, from 6.25 BCH to 3.125 BCH per block, mirroring the reduction in mining rewards seen with Bitcoin.
