What is the bitcoin halving event, and how did it affect the price?

Open this photo in gallery: An advertisement for the cryptocurrency Bitcoin displayed on a tram, May 12, 2021, in Hong Kong.Kin Cheung/The Associated Press In March, bitcoin hit an historic high, reaching a price of more than US$73,000. Its skyrocketing value and increasing popularity attracted many budding investors interested in getting into cryptocurrency. But unless those new investors have tens of thousands of dollars available, it's likely they'd only buy a fraction of a bitcoin, which is available to buy through a cryptocurrency exchange or some online stock services. Thanks to its now-exorbitant price, purchasing and owning fractions of one…