$ETHFI
First Halving – 28 November 2012
The first Bitcoin halving occurred after the network confirmed 210,000 blocks. The reward for miners was reduced from 50 Bitcoins per block to 25 Bitcoins. At the time of the halving, the market price of Bitcoin was $12.20. After the halving, a bull run ensued, and by the end of 2013, the price of Bitcoin rose to $1,000.
Second Halving – 09/07/2016
Four years later, the second halving event occurred in 2016, with the number of blocks reaching 420,000. This resulted in a reduction in mining rewards from 25 Bitcoins per block to 12.5 Bitcoins. Before the halving, the price of Bitcoin was volatile. However, Bitcoin was trading at $650.3 at the time and peaked at around $19,188 in December 2017.
Third Halving – 11/05/2020
The third halving event occurred after 630,000 blocks were processed. The reward for miners was reduced from 12.5 bitcoins per block to 6.25 bitcoins. The event attracted intense attention as the leading cryptocurrency increasingly penetrated the financial sector. BTC was initially priced at $8,821.42 and then quickly rose to $10,943 within 150 days. It reached an all-time high of $69,000 in November 2021.
The upcoming fourth halving – 2024
According to CoinMarketCap’s forecast, the next halving will occur on April 17, 2024, after 840,000 blocks are processed. It is expected that the reward for miners will be reduced from 6.25 bitcoins per block to 3.125 bitcoins. Enthusiasts and investors have speculated on the impact this halving event will have on the market, sparking considerable expectations.
