WHAT YOU MUST KNOW ABOUT BTC HALVING 👇👇🤔
BTC halving is an event in the Bitcoin$BTC network where the reward for mining new blocks is cut in half. This process occurs approximately every four years (or every 210,000 blocks) and is programmed into Bitcoin's code to control the total supply of Bitcoin, ensuring that only 21 million bitcoins will ever exist.
The halving reduces the rate at which new bitcoins are created and thus lowers the supply. Historically, Bitcoin halvings have been associated with significant increases in the price of Bitcoin, as reduced supply, coupled with continued or increased demand, often leads to higher prices.
To date, there have been four halving events:
1. 2012 Halving: Block reward decreased from 50 BTC to 25 BTC.
First Halving
November 28, 2012
On the day of the halving, the price of Bitcoin was approximately $12. Six months later, around May 28, 2013, the price had risen significantly to about $130, showcasing a substantial increase.
2. 2016 Halving: Block reward decreased from 25 BTC to 12.5 BTC.
Second Halving
July 9, 2016
The price of Bitcoin was around $660 on the day of the halving. Around January 9, 2017, the price increased to about $900, indicating a considerable growth in value over six months.
3. 2020 Halving: Block reward decreased from 12.5 BTC to 6.25 BTC.
Third Halving
May 11, 2020
Bitcoin's price was approximately $8,600 on the day of the halving and it rose to over $15,700 six months later, around November 11, 2020.
4. Fourth Halving
April 20, 2024
The price of Bitcoin witnessed a surge before the actual halving event. BTC price was approximately $64,262 on the day of the halving on April 19, 2024 with minor positive price action post the halving event.
The next halving is expected to occur in 2028
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