Bitcoin halving cycle

Why do Bitcoin halvings happen?

This year is the year before the halving, and Bitcoin has followed the pattern with big gains. And that's why one would expect Bitcoin to continue its surge with big gains and new all-time highs in 2024. When is bitcoin halving Bitcoin’s second halving was on July 9, 2016, significantly higher than at the time of the first halving but still a far cry from the prices in the years that followed. Coming off Bitcoin’s performance after the first halving, traders expected another bull run. Bitcoin did indeed experience a massive bull run in 2017, but by the end of 2018 it was in a price trough again, slipping to around $3,700 by New Year’s Day 2019. Halving #2 reduced the block reward from 25 BTC to 12.5 BTC.

Bitcoin halving

The first halving happened on November 28, 2012, reducing the block reward from 50 BTC to 25 BTC. The second occurred on July 9, 2016, further cutting it down to 12.5 BTC. Most recently, on May 11, 2020, the reward became 6.25 BTC. Is it Really ‘Up Only’ for Bitcoin? Bitcoin has experienced three halving events since its inception in 2009. Each halving event has sparked widespread discussion within the crypto community, primarily concerning its potential impact on Bitcoin's price.

Bitcoin Halving Dates History

When you use bitcoin to buy something, it records the transaction on a blockchain, which is essentially a ledger or database whose entries can't be modified or erased. Bitcoin predictions This tool tracks the Bitcoin blockchain in real-time to provide an accurate live countdown to the next BTC halving event. It updates continuously to reflect the current state of the Bitcoin network. You can even use our graph to analyze the BTC halving.

Bitcoin halving cycle

The last Bitcoin Halving took place on May 11, 2020. The reward for mining a block of Bitcoin fell from 12.5 to 6.25. After this Bitcoin halving, the cryptocurrency market went on a bull run, with the price of Bitcoin increasing by 5x in the next calendar year (though it’s likely that this can be attributed to multiple factors, including global economic conditions in the wake of the COVID-19 pandemic). Deep Dive: What is the Bitcoin Halving? This happens roughly every 4 years to slow the creation of new BTC and control inflation. Based on historical data from the previous two Bitcoin halvings, the price of BTC could drop by up to 38% before the next halving.