BTC halving event is coming in a week's time and I hope many of you are aware of this upcoming event. Basically this way it's going to cut the block size by 50% which will also make the miner reward ward reduced by 50%.

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This event is left for almost 5.5 days as of now and crypto.com exchange is making it more special if you are interested to make it more rewardable for you. I personally think this a great deal if you are interested to have some bitcoin investment and this way surely you can get some decent profit as you will be able to buy the BTC at just half the price. They have set up the funds of 1 million dollar worth of bitcoin which is also not bad.

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What is the Bitcoin halving event?

As part of Bitcoin's coin issuance, miners are rewarded a certain amount of bitcoins whenever a block is produced (approximately every 10 minutes). When Bitcoin first started, 50 Bitcoins per block were given as a reward to miners. After every 210,000 blocks are mined (approximately every 4 years).

There is a mix of opinions about bitcoin price post-event from experts and analysts. Some of them are saying that the price will go down and some are saying that it may go up since quantity will reduce and selling. Its difficult to say which option will turn to reality after the event. I am a long term investor so I think this reduction will benefit in a long way and we can see more spike in the price because supply is going to reduce. Though there will be 50% less bitcoin will get generated but I don't think demand will also cut by 50%. There can a case where demand is reduced but certainly, it won't be done by 50%.

This change will affect the mining industry as their rewards are going to get reduced and there is a possibility that small miners will shut down the mining however those who are doing in bulk will continue because the cost usually does not increase that much. I also think for an investor it will not make a big difference because we hold the assets and not getting rewarded for holding. But all the miners keep on selling bitcoin for their mining operation expenses and now since their reward will reduce so they will be selling less. When there is less selling so we can expect some rise in price and that could be beneficial for us in the long run.

This is no way financial advice and I have shared details so if you like to take part or want to have more detail then I would suggest you check the website for more details. Please remember crypto is highly volatile asset and needs to invest what you can afford to lose.

Reference link for crypto.com-

https://crypto.com/exchange/syndicate

Thank you so much.

Stay Safe