Perhaps the most significant moment of the past week was the bitcoin halving, which happened late in the day on Friday, April 19.

As a reminder, the halving happens every 210,000 blocks, or roughly every four years, given that a block gets mined around every 10 minutes and decreases the reward for mining a bitcoin block by half, slowing bitcoin’s issuance.

Eventually, the block reward will become zero once all 21 million bitcoin are mined, and the only reward for miners will be transaction fees.

The most recent halving brought the block reward down to 3.125 BTC from 6.25 BTC.

Halve a bad day?

Historically, the halving has been viewed as a bullish signal as, in a certain sense, it increases the scarcity of the asset. This year, predictions about the halving were spread far and wide, …