Bitcoin will have a decline in the amount of mining, an annual rule set by the founder, expected to have direct effects on the entire cryptocurrency market.

The event that is considered to be the most volatile for the virtual currency market in 2020 is that the Bitcoin will halve the amount, taking place in May 2020. No one can control this process. The event is immutable and it was written in a basic code set by Bitcoin creator Satoshi Nakamoto over a decade ago.

The event is expected to halve the amount of new money given to bitcoin miners, who supply global cryptocurrencies by solving complex algorithms.

This is expected to be a major change in a virtual currency market worth around $ 120 billion, where several billion dollars worth of Bitcoin is created each year.

Mining will become more difficult due to the fact that competition between mining companies in the virtual currency market will increase significantly. Between 2009 and 2012, you can mine on your home computer and receive 50 Bitcoin per block. Now to mine a block, you'll have to join a mining team, connect the power of your personal computer to other computers or buy an expensive specialized device to mine.

The amount of money received for a Bitcoin block is halved every 4 years. Until the end of November 2012, the reward for one mined block was 50 Bitcoin. However, in the 10 years of Bitcoin's existence, this number has decreased by 4 times - to 12.5 Bitcoin. It is expected that from 2020, miners will only be able to receive 6.25 Bitcoin per block.

The amount of money received for a Bitcoin block is halved every 4 years. Until the end of November 2012, the reward for one mined block was 50 Bitcoin. However, in the 10 years of Bitcoin's existence, this number has decreased by 4 times - to 12.5 Bitcoin. It is expected that from 2020, miners will only be able to receive 6.25 Bitcoin per block. In theory, if supply is cut and demand remains constant, prices will rise. This time, seven cryptocurrency traders and miners interviewed by Reuters said a halving in the amount of Bitcoin mined in May could lead to greater volatility and trading volume. Even so, the quantity cut makes the price higher than before, for many traders it was no surprise that they were prepared for the event.

Experts believe that reducing the number of Bitcoin blocks found to 2 times will contribute to the growth of Bitcoin price. Bitcoin's rise will be followed by the growth of other cryptocurrencies. This will increase the popularity of cryptocurrencies and contribute to the further development of blockchain technology.

However, disrupting the production and supply of Bitcoin as a reminder of a reason why this digital currency has been jamming the regulation and not being accepted by the mainstream monetary system. That is the fate of Bitcoin is still associated with complex technological factors.