What is Bitcoin Halving?
The halving of Bitcoin is inseparable from the benefits that miners can obtain. When a miner verifies a transaction and successfully submits a block to the Bitcoin blockchain, he will receive a certain amount of Bitcoin as a block reward. Every time the bitcoin blockchain validates 21,000 blocks, the bitcoin reward miners receive for building a new block is cut in half.
Since halving reduces the speed at which newly issued bitcoins enter the market, it is generally believed that halving has a significant impact on bitcoin prices. Currently, the price of Bitcoin (BTC) on the market is $28666.8, +4.55% in 24 hours and +4.57% in the past 7 days.For more information, see Bitcoin Price
Bitcoin Halving Historical Data
In 2008, Satoshi Nakamoto published the article “A Peer-to-Peer Electronic Cash System”, which first proposed the concept of Bitcoin. Satoshi Nakamoto stipulates that the reward will be halved every time 210,000 blocks are generated, until 2140, when the block reward is 0, all Bitcoins will be issued, and the final total number of issued coins will remain constant at 21 million.
Bitcoin’s first halving (November 28th 2012)
1.Bitcoin blocks where the halving occurred: 210,000
2.Block reward: 50 BTC to 25 BTC
3.Bitcoin price on halving day: $12.3
4.Price peak in this cycle: $1,175.0
5.The largest price increase in this cycle: 9552.85%
Bitcoin’s Second Halving (July 9th 2016)
1.Bitcoin blocks where the halving occurred: 420,000
2.Block reward: 25 BTC to 12.5 BTC
3.Bitcoin price on the day of halving: $648.1
4.Price peak in this cycle: $19,800.0
5.The largest price increase in this cycle: 3055.08%
Bitcoin’s third halving (November 2020 )
1.Bitcoin blocks where the halving occurred: 630,000
2.Block rewards: 12.5 BTC to 6.25 BTC
3.Bitcoin price on halving day: $8,560.6
4.Price peak in this cycle: $67,775.3
5.The largest price increase in this cycle: 791.71%
Bitcoin’s fourth halving (May 2024)
1.Bitcoin blocks where the halving occurred: 800,000
2.Block rewards: 6.25 BTC to 3.125 BTC
3.Bitcoin price on halving day: to be updated
4.Price peak in this cycle: to be updated
5.Maximum price increase in this cycle: to be updated
Halving’s Impact on Bitcoin
Halving events are closely related to the bull market cycle of the entire crypto market. Historically, after each halving occurred, the price of Bitcoin rose rapidly within 6 to 12 months and reached a record high.
Therefore, the Bitcoin halving has important implications for various market participants.
Post time: Mar-30-2023
