Bitcoin halving is a significant event in the world of cryptocurrency that occurs approximately every four years. It cuts the number of bitcoins mined per block in half, reducing the rate of new supply and increasing scarcity. This is an intentional design feature of the bitcoin protocol to control inflation and ensure that the currency remains valuable over time. The halving also impacts miners as it reduces the rewards they receive for verifying transactions, potentially leading to consolidation within the mining industry. The market impact of previous halvings has been substantial, with some predicting that this could lead to an increase in the price of bitcoin. Overall, the halving matters because it helps to maintain the integrity of the bitcoin network and its scarcity, which supports its value and long-term sustainability.