/biz/ - Business & Finance

>>18352308
Without getting too technical, The amount of bitcoins rewarded per day is cut in half. So miners will now be making exactly half of what they made before, causing many to either stop mining or move to a different coin. It's a tactic of bitcoin's code to control supply.
Unlike the previous two halvings however, there weren't nearly as many miners before as there are now. It's expected this halving will have a larger impact at first since many miners are then going to value their Bitcoin higher since it's harder to obtain. Once a large amount of miners stop mining BTC, the reward for others will go up and thus lower its value. So it's hard to say how high or how long this will occur.