As Decrypt.co's Tim Copeland details,  at 7 pm UTC (3 pm ET) today, the new supply of Bitcoin will drop by 50%, meaning there are few satoshis being created each day.

How will the digital gold narrative hold up after the Bitcoin halving?

There's a lot of pressure on this year's halving. Bitcoin proponents have spun two narratives around it: The event will lead to a boom in prices, or Bitcoin will become more like gold in its scarcity and stability. Below we explore the ideas behind both, and what happens if neither comes true.

Time for a Bitcoin bull run

After the halving, many Bitcoiners are hoping to see the price of Bitcoin go on a new bull run, break new highs, and hit ambitious targets like $288,000 by 2024, $250,000 this year, or even $1 million in the near future. But what are these predictions based on and are they likely?

Part of it is looking at historical data. When you look at the past two halvings, they both preceded bull runs. Take 2016, just a year later Bitcoin hit $20,000 and attracted global media coverage.