Bitcoin (BTC), Bitcoin Cash (BCH) Set for Epic Countdowns to Halving Event

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Halving events, which occur typically every four years for both Bitcoin and Bitcoin Cash, are programmed into the protocols of these cryptocurrencies as a means of controlling inflation and supply entering the market. By reducing mining rewards by half and then decreasing the rate at which new coins are generated, halvings serve to increase scarcity and establish a deflationary supply model, frequently leading to upward pressure on prices., the next halving event is expected to occur in April 2024, when the block reward for miners will be reduced from 6.25 BTC to 3.125 BTC per block.

Multichain crypto and blockchain explorer OKLink gives the current countdown to the Bitcoin halving event as 42 days and 10 hours, with an estimated date of April 20, 2024. The remaining blocks left for this event are currently 6,114., is also gearing up for its halving event, which is scheduled to take place in April 2024 as well, albeit earlier than the Bitcoin halving event.

At that time, the block reward for miners will be halved from 6.25 BCH to 3.125 BCH per block, mirroring the reduction in mining rewards seen with Bitcoin.Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.

Source: Digital Coin News (digitalcoinnews.net)

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