What is Bitcoin Halving and how will it impact the future of Bitcoin?

Bitcoin halving is an event programmed into the cryptocurrency's protocol that occurs approximately every four years. During this event, the reward for mining new blocks is halved, reducing the rate at which new bitcoins are generated.

This mechanism is designed to control inflation and maintain the scarcity of Bitcoin. The reduction in the rate of supply growth often leads to increased scarcity, which can drive up the price due to the basic economic principle of supply and demand.

As the supply of new bitcoins diminishes, assuming demand remains constant or increases, the price of Bitcoin tends to rise.