Big news in the world of cryptocurrencies: Bitcoin, the most famous digital currency, just hit a major milestone. Here's the scoop: Every four years, the process of creating new bitcoins gets cut in half. This time, it happened on April 19. This reduction, called a "halving," is like putting the brakes on how many new bitcoins can be made.
So, why does this matter? Well, it's all about supply and demand. With fewer new bitcoins being made, some folks think their value might go up. And after this recent halving, Bitcoin's price held steady at around ₹58,89,117.
This event was eagerly awaited by people who follow cryptocurrencies closely. They think it'll make Bitcoin even more valuable because there will only ever be a total of 21 million bitcoins. That's it!
What is Bitcoin Halving?
But what exactly is Bitcoin halving? Basically, it's a part of Bitcoin's plan written into its computer code. It's like a rule that kicks in every four years, cutting in half the rewards people get for making new bitcoins. This slows down how many new bitcoins can come into existence, making them rarer and potentially more valuable over time.
So, while Bitcoin's price has had its ups and downs lately, this halving has got people buzzing about its future. We'll just have to wait and see what happens next in the world of digital currency!