Two years after the last bullish market, comes yet another era of Bitcoin Halving. A period during which the cryptocurrency price is anticipated to hit an all-time high.
Bitcoin halving is a term used to refer to a period in the life span of the crypto where the reward on every block been created on the blockchain is slashed by half. This current reward-base for mining a single block on the blockchain was globally pegged at 12.5 BTC.
Since the entire mining process is solely based on a set of mathematical functions, and with a daily mine of 1,800 blocks, experts estimate the digital token to be due for the next halving by 2020. With the current amount of Bitcoin in circulation ranging to about 17,750,000 Bitcoins, the next halving phase is believed to occur in the next four years to the previous halving – 2024. This mechanism was put in place to ensure a prolonged credibility of Bitcoin.