Bitcoin halving is an antcipated event in the cryptocurrency world that takes place every 4 years. Basically halving the total amount of Bitcoin in circulation.
that is wrong. the block reward is cut in half not the total amount of bitcoin in circulation. the later doesn't make any sense since if it were true we would have run out of bitcoins to use soon!
what happens is that each block that is found has a reward, it started at 50
BTC per block and each 210000 blocks this reward is cut in half -> 25 -> 12.5 which is the current reward and soon will be 6.25. due to the way bitcoin difficulty is designed it takes approximately 4 years to reach each halving.
there is nothing unreal or theoretical about this. what i explained has been enforced by the bitcoin protocol for the entire existence of bitcoin (11 years).
Taking into consideration that people are falling back to cryptocurrency during this hard time in the world.
that is wrong. people aren't adopting bitcoin any more than before during the pandemic. the adoption may have even slowed down a bit.
and like always to spend bitcoin you'll need it to be accepted somewhere, those who were spending are still spending and those who weren't willing to spend (only use it as an investment) are not changing their mind either!