Bitcoin Supply Reduced from Approximately 900 to 450 per Day
The Bitcoin supply halving, which reduces the supply by half every four years, concluded on the 19th (local time) Eastern Time in the United States.
Major foreign media outlets, citing cryptocurrency market platform CoinGecko and others, reported that the fourth halving was completed on this day in Eastern Time.
The Bitcoin halving, which occurs once every four years, was expected to take place either this afternoon or early morning on the 20th.
With the completion of this halving, the Bitcoin supply decreased from about 900 coins per day to 450 coins per day, and the mining reward per block was reduced from 6.25 coins to 3.125 coins.
The halving is considered one of the factors that can drive price increases because it reduces the additional supply of Bitcoin.
As of 8:30 PM on the same day immediately after the halving, the price of one Bitcoin was trading at $63,906, up 1.65% compared to 24 hours earlier, but there was no significant volatility in the market. Some foreign media described the Bitcoin price as "quite stable" right after the halving, and the AP news agency also explained it as "maintained stability."
Unlike previous halvings, there has been analysis suggesting that this halving may have limited impact on price increases. JP Morgan stated in a recent report, "Expectations for the halving are already reflected in the Bitcoin price," and "We do not expect a price increase after the halving."
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