Yes, it is true that the Earth's magnetic pole is moving towards Siberia by about 40 kilometers per year. Scientists know why it is moving,

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Is magnetic pole is moving?
Yes, it is true that the Earth's magnetic pole is moving towards Siberia by about 40 kilometers
per year. Scientists know why it is moving, but it is not known why it is moving so fast. But
before explaining it, let us see what is a magnetic pole and how it originated.
Earth poles: Earth has two poles. One is called geographic pole and the other is a magnetic
pole. If you look at this picture, both are shown:
Every phone has a compass. If you run the compass on your phone and turn it towards N then
it will be towards the magnetic pole.
This pole is moving towards Siberia at a great speed.

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Importance of Magnetism in context of Earth: If there is life on Earth, then it is due to the
Earth being magnetized. If there was no magnetism on Earth, the rays emanating from the sun,
called solar wind, would have blown most of the atmosphere of the earth. This is what
happened on Mars. Initially, there was water on Mars. But Mars did not have magnetism and
because of this, its atmosphere was blown by solar wind. Water cannot remain without the
atmosphere. The pressure of the atmosphere is required for the water to remain fluid. 4
billion years ago, mars might look like this and there might have been seas too:
To understand why the Earth is magnetized, one has to understand what is inside the Earth. If
you cut the earth, it will look like this below.
• The topmost part of it is called upper mantle.
• The mantle at the bottom of it.
• The underside of it is called the outer core which is the fluid.
•There is a solid core below it which is called inner core.

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The rotation of the core below brings magnetism to the Earth. It makes the Earth magnetized
like a dynamo. This is called The Dynamo Theory , and this is due to the rotation of this solid
inner core.
This magnetic field of the Earth protects us from the harmful radiation of the Sun. If the Earth
had not been magnetized, life on Earth would not have happened, like Mars.

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Why the Earth's magnetic pole is changing ? Now we can answer your question. Although
science behind it is not fully known, but there is an assumption. As we have shown, the Earth is
magnetized due to the core's oscillation. The rate of rotation of the core changes. The reason
for this is that there is a convection inside the outer core of the Earth.
It is just like when you heat the water, the currents of the convection arise in the water. It
occurs in a very large form inside the Earth. For this reason, the rotation of the core changes
and the magnetic pole also changes.
It is not likely to cause any harm but the change is happening at such a speed that the scientists
are forced to update the "World Magnetic Model" before time . The Model is usually updated
every five year , the last model was updated in 2015 and was suppose to last upto the end of
2020 but with this alarming rate of speed of change the scientists have decided to update it on
15th January 2020 itself .
Thus , with this speed of change there is likely a possibility of a quicker geomagnetic reversal ,
and the impact of the same would be visible in coming time .