Summary
TLDR: Bitcoin is about to undergo its next halving event, reducing the reward for miners and potentially increasing the price of the cryptocurrency. More sophisticated investors are now involved due to the approval of spot Bitcoin ETFs, and experts predict the price of Bitcoin could reach as high as $90,000 this year. Casual Bitcoiners should pay attention to this event as well.
Key Points
1. The Bitcoin halving event occurs every four years and reduces the reward for miners from 6.25 BTC to 3.125 BTC per block created.
2. The scarcity of Bitcoin increases after the halving event, leading to fewer coins in circulation and potentially driving up the price of the cryptocurrency.
3. Historical data shows that previous Bitcoin halving events have resulted in significant price increases for the cryptocurrency, making it a key event for investors to monitor.