Crypto Market Sees Small Gains Following Bitcoin Halving Weekend

Bitcoin's long-awaited halving event, in which the block reward is reduced by 50% to restrict the release of new coins, occurred over the weekend.

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However, it did not result in massive price increases, as many investors and crypto miners predicted.

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The Bitcoin Halving event occurs every four years and delays the introduction of new coins into the cryptosystem.

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There is a fixed upper limit of 21 million Bitcoins, with more than 19 million "mined" by people who use high-end computing resources.

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The first to accomplish this is now rewarded with 3.125 Bitcoin, up from 6.25 BTC a month ago.

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