Not a horror movie title... The Halvening. Bitcoin’s long-awaited block reward halving — the 3rd ever since the cryptocurrency's creation — happened (halvened?) yesterday. The reward for verifying a block of Bitcoin transactions has been cut in half from 12.5 Bitcoins to 6.25 (at $8.7K/Bitcoin, that's a $54K reward). A little background...
Curb your crypt-thusiasm... In addition to verifying the legit-ness of transactions, mining also introduces new coins into the system (like a central bank controlling the printing of $$$, but decentralized). Enter Satoshi's halving rule...
It's all about getting "priced in"... This event has been on calendars since 2016 and Halvenings have happened before. If all investors in the market know that same information (like they did), then they probably already reacted and planned for the Halvening beforehand. That means the event was “priced in” to the current price, so in theory the Halvening shouldn't move the price much — and it didn't. The price of a Bitcoin just inched down yesterday.