The Bitcoin halvening, or halving, is a significant event in the cryptocurrency world that occurs approximately every four years. It's a built-in feature of the Bitcoin network that reduces the reward for mining new blocks by half. This mechanism is part of Bitcoin's design to control inflation and ensure that the total supply of Bitcoin reaches its limit of 21 million in a predictable and controlled manner.The first Bitcoin halving took place in November 2012, reducing the block reward from 50 BTC to 25 BTC. The second and third halvings occurred in July 2016 and May 2020, respectively, further reducing the block reward to 12.5 BTC and then to 6.25 BTC. The next Bitcoin halving is expected to happen in April 2024, when the block reward will fall to 3.125 BTC. This event is eagerly anticipated by the crypto community, as it has historically been associated with significant price movements and increased interest in Bitcoin.