What Is Bitcoin Halving?
Bitcoin halving is an event where the reward for mining new Bitcoin blocks is cut in half, resulting in miners receiving 50% fewer Bitcoins for verifying transactions. Bitcoin halving occurs every 210,000 blocks which translate to approximately every 4 years.
Bitcoin Halving Dates So Far
Event Date Block Block Reward Mined In Period % Mined First Bitcoin Halving November 28th, 2012 210,000 25 5,250,000 75 Second Bitcoin Halving July 9th, 2016 420,000 12.5 2,625,000 87.5 Third Bitcoin Halving May 11, 2020 630,000 6.25 1,312,500 93.75
Expected Next Bitcoin Halving Dates: 2024 and Beyond
As of today, 18.3 million of Bitcoin, which has a production supply of 21 million, has entered the system. The remaining 2.7 million #BTC will be put into use over the next 120 years. The last block will be found in the estimated year 2140.
2024 Bitcoin Halving
- Expected: 2024
- Block number: 740,000
- Block reward: 3.125 new BTC
- Total new Bitcoins: 656,250 BTC
2028 Bitcoin Halving
- Expected: 2028
- Block number: 850,000
- Block reward: 1.5625 new BTC
- Total new Bitcoins: 328,125 BTC
How does halving influence bitcoin’s price?
Bitcoin has seen three halvings so far, which we can look to as precedents.
No one knows what the value of Bitcoin will be after halvings in the future. The adoption rate of Bitcoin, blockchain technology and cryptocurrencies will have an impact on the price. However, it should not be forgotten that the political and economic developments in the world and the attitude of states and corporate companies in parallel with these developments will continue to have an impact on the value of Bitcoin.
You can find detailed analyzes in the links of the sources used for this article.
https://www.zenledger.io/blog/bitcoin-halving
https://www.coindesk.com/learn/bitcoin-halving-explained/
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