🚨#BTC stands on $52K, bull run coming?
Bitcoin halving is a prescheduled event where the reward for mining and verifying new blocks is reduced by 50% and miners earn only half the number of BTC per mined block. Scheduled to take place every 210,000 blocks, or approximately every four years, Bitcoin halvings continue until the network has produced the maximum total supply of 21 million BTC.
What Happens When Bitcoin Halves?
When Bitcoin halves, the reward for mining a new block is cut in half. This reduces the rate at which new BTC are created, effectively lowering the inflation rate of the cryptocurrency. The halving event occurs approximately every four years and is part of Bitcoin's controlled supply, aiming to limit the total number of BTC to 21 million
Bitcoin Halving History
The mining reward started at 50 BTC per block when Bitcoin was released in 2009. Since then, there have been three halvings. The first Bitcoin halving occurred in November 2012, reducing the mining reward from 50 to 25 BTC. The second halving in July 2016 cut it further to 12.5 BTC. In the third halving in May 2020, the reward was again halved to 6.25 BTC per block. These halvings are integral to Bitcoin's scarcity and inflation control, ensuring that the total supply will never exceed 21 million, aligning with its deflationary principles.
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.
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.
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..📈
$BTC
