As Bitcoin's latest halving approaches, the network is now halfway through the cycle.

The notable point is that this time, the price movement has been more subdued compared to previous cycles.
Since the halving in April 2024, we've seen approximately a 15% increase, but after reaching a peak of $126,000 in October, there was a 50% decline in February.
Currently, the price is stabilizing around $77,000.

Each halving cycle lasts four years and will occur again in April 2028.
This mechanism keeps Bitcoin's inflation rate under control — currently below 1%.
The reward per block is now 3.125 BTC, and it remains fixed thanks to difficulty adjustments that maintain the network's 10-minute block production rate.

When about 105,000 blocks remain in this cycle, Bitcoin's true value emerges: limited supply.
With a total cap of 21 million coins, Bitcoin stands as a scarce asset during inflationary periods.
The network recently mined its 20 millionth Bitcoin, revealing an important fact — the mining of the final million will take another 114 years.
This is a tangible indicator of Bitcoin's scarcity.

Market data shows that returns during this halving cycle are lower compared to previous ones.
The reason is simple: as Bitcoin matures, more capital is needed for larger price movements.
As market capitalization increases, the amount of money required for the same percentage gains multiplies.
Volatility decreases with each cycle, and this trend appears to continue.

In conclusion, the question of when the last Bitcoin will be mined is becoming increasingly distant.
At the current network speed, all Bitcoin will be in circulation around 2140.
However, what matters most now is that each halving further tightens supply and reinforces long-term scarcity.