The main reason for implementing halving is to ensure that Bitcoin price does not drop over time. Creator of the crypto currency, known under pseudonym Satoshi Nakamoto, limited the maximum amount of mined Bitcoin to 21 million. As number of miners began to rise, pace of mining similarly grew. Therefore, it was necessary to cut the speed of Bitcoin mining. Bitcoin halving takes place roughly every 4 years when around 210,000 blocks are mined.
Up until now, Bitcoin price rose after halving, and similar progress is now expected. Yet, offer represents only one side of the market, as it depends mainly of demand whether and how much Bitcoin will grow. Makers were rather hesitant in recent weeks, what was evident on price fluctuations from $8,700 to $10,000. We will soon learn whether markets stabilize.