Crypto space braces for Bitcoin ‘halving’ next year – Bitcoin USD (Cryptocurrency:BTC-US…

Coming up next year for Bitcoin? An expected halving in May, which will cut by half the number of new coins awarded to miners who provide global supply of the cryptocurrency by solving complex math puzzles.

The event occurs roughly every four years. Currently, about $120B of Bitcoin is added every year.

The theory behind “halving” is that the dwindling new supply will boost prices assuming demand stays constant.

Citing interviews with seven crypto traders and miners, Reuters says the May halving will probably lead to increased volatility and trading volumes.

But the new supply throttling is likely to be more priced in than previously, they said, with many traders already preparing for the event.

Bitcoin fell as low as $6,540.05 yesterday, but is up 4.4% over the past 24 hours to $7,139.27.