📔Context

Bitcoin Halving Events are predetermined occurrences in the Bitcoin network's protocol where the reward that miners receive for validating transactions is cut in half. This reduction happens approximately every four years or after every 210,000 blocks are mined. The primary purpose of the halving is to control the rate at which new bitcoins are created, ensuring scarcity and mimicking the scarcity characteristics of precious metals like gold.

Bitcoin has experienced three halving events as of my last knowledge update in January 2022: November 2012, July 2016, and May 2020. Each halving has historically been associated with increased attention to Bitcoin, often accompanied by price surges. The scarcity introduced by halving is a fundamental aspect of Bitcoin's economic model, and many investors and analysts closely monitor these events as they believe they can influence the supply-demand dynamics and, subsequently, the price of Bitcoin.

The next halving is anticipated to occur in 2024, and it is expected to continue being a pivotal event in the cryptocurrency world, influencing market sentiment and contributing to Bitcoin's long-term value proposition.