All about Bitcoin halving ๐โ ๐ฏ
As Bitcoin halving reduces the rate at which the new supply of Bitcoin entering market circulation, it is believed to have a significant effect on the network as well as on the price of bitcoin. The current price of Bitcoin (BTC) is $69844.2, which is also +0.16% in the last 24 hours, and +7.70% in the past 7 days. For more information, see Bitcoin price now.
Historical Dates of Bitcoin Halving
In year 2008, Satoshi Nakamoto published the Bitcoin whitepaper โA Peer-to-Peer Electronic Cash Systemโ, introducing the concept of Bitcoin for the first time. In the whitepaper, it is stipulated that Bitcoin halves as every 210,000 blocks are mined, until the whole supply of 21 million Bitcoins are mined
Bitcoin halving relates to the reward for Bitcoin miners. When Bitcoin miners validate transactions on the blockchain, they receive a fixed quantity of Bitcoins in return. When 210,000 blocks are validated, the number of Bitcoin that miners receive will be reduced by half.
1. First Bitcoin Halving๐โ
28 November 2012
Bitcoin blocks mined: 210,000
Mining reward: From 50 BTC to 25 BTC
Price on halving day: $12.3
Peak price in this cycle: $1,175.0
Maximum bitcoin price increase in this cycle: 9552.85%
2. Second Bitcoin Halving๐โ
9 July 2016
Bitcoin blocks mined: 420,000
Mining reward: From 25 BTC to 12.5 BTC
Price on halving day: $648.1
Peak price in this cycle: $19,800.0
Maximum bitcoin price increase in this cycle: 3055.08%
3.Third Bitcoin Halving ๐โ
11 May 2020
Bitcoin blocks mined: 630,000
Mining reward: From 12.5 BTC to 6.25 BTC
Price on halving day: $8,560.6
Peak price in this cycle: $ 67,775.3
Maximum bitcoin price increase in this cycle: 791.71%
4.Fourth Bitcoin Halving๐โ
May 2024
Bitcoin blocks mined: 840,000
Mining reward: From 6.25 BTC to 3.125 BTC
Price on halving day: To be announced
Peak price in this cycle: To be announced
Maximum bitcoin price increase in this cycle: To be announcedwhat is bitcoin halving โ $BTC
