Only 5,000 blocks to go until Bitcoin Halving

The next Halving will take place in April. The Bitcoin market has been preparing for this for months. Is the current price a harbinger of this Halving?

According to Nicehash, block No. 835,230 has been passed. The halving is performed at block 840,000. The processing time of a block is about ten minutes. Therefore, according to current calculations, the halving will take place on April 17. However, the date may still change.

The halving has been eagerly awaited in the crypto space for months. The halving, which occurs every 210,000 blocks and thus roughly every four years, halves the reward for a valid block from the current 6.25 to 3.125 Bitcoin in the future. The halving does not affect the transaction fees miners receive for each block.

The halving is accompanied by optimistic price predictions. The supply of new Bitcoin in circulation continuously decreases due to the halving. The recurring supply shortage could have a price driving effect if demand is correspondingly high.

Demand has recently received a major boost from ETF trading. In January, the U.S. Securities and Exchange Commission (SEC) approved several Bitcoin Spot ETFs. The largest of these, that of Blackrock, has now bought more than 200,000 Bitcoin.

Meanwhile, competition for the last blocks before halving has led to new hashrate records in the mining sector. Profit margins are also at record levels due to the recent uptrend (despite the current correction).