Bitcoin Halving

The halving is a scheduled event, roughly every four years, where the reward miners receive for adding a block to the Bitcoin blockchain is cut in half. It is how Bitcoin throttles new supply down toward its 21 million cap.

Because the halving slows the rate of new coins entering the market, supporters watch it as a supply shock that has preceded past bull runs. The history is only a handful of events, so treat any confident cycle prediction with skepticism — a pattern with four data points is a story, not a law.