In less than three days, the long-awaited Bitcoin (BTC) halving is finally taking place. As the price of the world’s largest cryptocurrency rises, so does interest in the currency and the halving event. The volume of search queries for the upcoming Bitcoin halving reach an all-time high.
Bitcoin halving: rewards for miners are halved
While even the biggest experts cannot predict what will happen to Bitcoin after the halving, the growing interest is a positive sign. But what exactly happens with halving? The fact is that the block reward for miners is cut in half: from 12.5 BTC to 6.25 BTC.During the last halving, on July 9, 2016, the reward decreased accordingly from 25 BTC to 12.5 BTC. Calculations predict that the last halving will take place in 2140. As soon as the 21 millionth, the last Bitcoin has been mined, miners will no longer receive any reward. But you earn on the transactions, because the fees for sending the cryptocurrency remain the same.With the growth of the crypto market, increasing numbers in investors and more public attention, interest in the event is reaching a new all-time high. As the Google Trends show, the search queries have reached 100 – the highest value ever measured for this search query.