Bitcoin Halving May Not Push Prices Higher

In less than six months’ time, Bitcoin will see an extremely important event. Known as a “halving” or “halvening,” the number of coins issued per block to miners will get cut in half, effectively meaning that Bitcoin’s inflation rate will be cut in half in layman’s terms.

What’s interesting is that this mechanism was never mentioned in Satoshi Nakamoto’s seminal whitepaper on Bitcoin, though this part of the cryptocurrency has become an integral part of the network.

You see, the halving mechanism, should it be kept in the code in the decades to come, will ensure that there will only be 21 million coins in existence. Ever. This ties into Satoshi’s seeming obsession with creating a scarce, hard form of money that is unlike fiat money, which can be printed without…

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