Halving is an event that takes place every four years in the cryptocurrency world. It is followed particularly closely by the community, as it has the effect of boosting the Bitcoin price every time. The next halving event is due to take place in April 2024.
Occurring every four years, this is a pivotal moment, during which the reward for miners of the famous cryptocurrency is systematically halved. This has the effect of mechanically slowing down the quantity of Bitcoin put into circulation. As a result, on or around April 19, 2024, the quantity of Bitcoins distributed per mined block will fall from 6.25 to just 3.125.
Historically, each halving event has been conducive to a sharp rise in the price of Bitcoin. So it's safe to assume that the upturn seen since January will last until at least April 19.