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  • Raj Varma

What Is Bitcoin ‘Halving’ and Does It Push Up the Cryptocurrency’s Price?


December 4,2023 : Bitcoin is notoriously volatile, prone to sudden price surges and swift reversals that can wipe out millions of dollars of value in minutes. Those changes are often mysterious to market observers, because of the digital currency’s lack of ties to the real economy.

Bitcoin has another quirk, one that was built into the code that gave it birth: Every so often, the formula that governs the rate at which new tokens are created changes. As another such event — called a halving — approaches, Bitcoin supporters and skeptics are debating what kind of impact it may have on the coin’s value.

The coin hit records after each of the last three halvings and rose past $40,000 in early December for the first time since April 2022.

Source - Bloomberg


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