Bitcoin(BTC)’s third block reward halving is set to take place today, May 11, in just a few hours.
In the past, Bitcoin halving events coincide with an upswing in general awareness, trading activity and attention towards crypto markets as a whole.
The halving mechanism — part of Bitcoin’s design — takes place roughly every four years. Since Bitcoin’s inception in 2009, there have been two block reward halvings so far.
Following the price patterns after the past two halvings, the industry is generally in agreement that Bitcoin’s third halving has the potential to bring BTC’s price to new heights over the long-term period.
In just a one year period following the previous halvings, in November 2012 and July 2016 halvings, the price of Bitcoin grew x80 and x4, respectively.
View details: What Will Happen to Bitcoin’s Price Post Halving? Bullish and Bearish Outlooks
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