Yes, you've heard it correctly!
Bitcoin's next halving is only 1 year away.


https://buybitcoinworldwide.com/halving/


What's an halving?

Miners are getting rewarded for finding new Bitcoin blocks, a new block is created every ⁓10 minutes by miners engaging in Proof-of-Work.
Finding a block for miners means getting a blockreward of valuable BTC, too.
And these block rewards, attached to each Bitcoin block, are decreasing over time, step by step.
It's part of Bitcoin as a scarce asset because as we all know, Bitcoin is limited to 21M coins.
Each 210.000 mined Bitcoin blocks, rewards are getting halved (= Halving).
210.000 Bitcoin blocks are roughly 4 years but it depends on how fast all 210.000 blocks are mined.
When Satoshi launched Bitcoin, block rewards have been at 50 BTC per block.
Here's an overview:


We are still early

After Bitcoin's block rewards were halved the last time in May 2020 from 12.5 BTC to 6.25 BTC per Block, we'll see a new halving in 2024 (expected to be in April 2024), decreasing Bitcoin's block reward from 6.25 BTC (which is valid actually) to 3.125 BTC per block.

And honestly, we need to admit that 3.125 BTC per block is very low:
Bitcoin's halving is reminding everyone once more, how truly scare Bitcoin really is. 
So, important reminder for everyone how close we are already to Bitcoin's Halving.
Only 1 year to go.