According to multiple estimates based on mining factors, in approximately 20 days Bitcoin will see its next block reward reduction. With this, the 12.5 coin reward that is minted as each Bitcoin block is mined will drop to 6.25 coins, resulting in a halving in the asset’s inflation rate.
Data suggests that the hype around the Bitcoin halving is on the rise, and the crypto market stands to benefit from this trend.
Bitcoin Halving Explodes In Popularity
According to Molly — the former head of Bitcoin Magazine’s China operation — the Chinese term for “Bitcoin halving” has recently gone viral on Weibo, also calling China’s Twitter.
The topic was the sixth-most searched in the past 24 hours, showing real interest in the event, despite China effectively banning the purchase of Bitcoin through yuan.
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