Halving is one of the most prominent events in the crypto space. It refers to the phenomenon when the mining reward for Bitcoin is cut in half. This helps to fight the inflation around the crypto asset by reducing the number of Bitcoins present in the market circulation, thereby increasing its demand. Every stakeholder is impacted within the Bitcoin ecosystem by Bitcoin halving.
This process of halving not just helps fight the inflationary rate of Bitcoin but also reduces the rate at which new bitcoins can enter the market. The previous halvings seen in the crypto industry were correlated with an intense rise in prices, helping Bitcoin achieve all-time highs and creating new records.