. The price rises as supply decreases, causing demand to rise. This upward tendency, however, is usually not immediate.
Miners will need to be as efficient as possible; therefore, a new technology that can generate more hashes per second while consuming less energy and lowering overheads will be in demand., their economies may affect the price. More importantly, the price of Bitcoin is likely to rise due to the increased visibility it is now receiving. The volume of transactions will only increase as more stores, small businesses and institutions start using Bitcoin.
However, historical evidence suggests that halving events do not cause this reaction. When the first halving occurred in 2012, Bitcoin’s hash rate dropped from December 2012 to mid-February 2013. Following that, both hash rate and mining profitability increased. This means that, once the dust settles, halving is advantageous to both miners and the network as a whole.
As Bitcoin halvings continue, the rate of new Bitcoin supply will gradually decrease until all 21 million BTC have been mined, with the final fraction of Bitcoin expected to be mined by the year 2140.
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