The number of new Bitcoins being created halves every four years, aptly referred to as a "halving" event. The last halving occurred on May 11, 2020, while the next is expected to occur around May 2024. That means that we are about halfway through the current cycle, a point which is known as the mid-halving event.
This has historically happened once every four years. The last time this happened was in May 2020, while the next halving event is expected to occur around March 16, 2024. There are plenty of online trackers that monitor in real-time how much time is left until the next halving.
“People calling for $1,000 Bitcoin don’t realize the halving pump traditionally starts a year ahead of time. The next halving is May 2020, meaning we are only a few months away from the start of the pump Are we really going to dump another -70% in the next few months?
Using past events as a yardstick, Bitcoin halving usually brings about a surge in the price, but in all, the supply/demand ratio plays the most vital role in determining what becomes of its price. Taking the supply/demand ratio into consideration, after a successful Bitcoin halving, the scarcity of the asset will increase.