The bitcoin “halving” is almost upon us. This technical event, written in bitcoin’s code, happens every four years. In simple terms, it is when the rewards for bitcoin miners are cut in half. This reduces the pace at which new bitcoins enter the market. Since there will ever only be 21 million bitcoins, the halving serves to create more scarcity. In the past, halving has preceded massive rises in bitcoin prices to new all-time highs. But this time, things are different. Bitcoin has already hit a new record high, before the halving has taken place. That’s because the approval of spot bitcoin exchange-trade funds has ... (full story)