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#BTC Bitcoin Halving History Chart Analysis
Every four years, the amount of new bitcoins produced is halved on a halving day. This means that during a Bitcoin halving event, the rewards for network defenders are reduced by 50%, directly impacting the rate of new bitcoins entering circulation. The day when the reward is halved is called the halving day. This is a significant event in the cryptocurrency market and has occurred three times since Bitcoin’s inception.
What is the Bitcoin Halving History Chart?
The Bitcoin halving history chart visually illustrates the timeline of halving events and their impact. Typically, it displays the halving dates, changes in mining rewards, and often includes the price movement of Bitcoin throughout history.
First Halving – 28/11/2012
Bitcoin’s first halving occurred after the network confirmed 210,000 blocks. Miners’ rewards were reduced from 50 bitcoins to 25 bitcoins per block. At the time of halving, the market price of Bitcoin was $12.20. Following the halving, a bull run ensued, driving the price of Bitcoin to $1,000 by the end of 2013.
Second Halving – 09/07/2016
After four years, the second halving event took place in 2016 upon reaching 420,000 blocks. This led to a reduction in mining rewards from 25 to 12.5 bitcoins per block.
Third Halving – 11/05/2020
The third halving event occurred after processing 630,000 blocks. Miners’ rewards decreased from 12.5 to 6.25 bitcoins per block. It reached a record high of $69,000 in November 2021.
Upcoming 4th Halving – 2024
According to CoinMarketCap’s prediction, the next halving will occur after processing 840,000 blocks, on April 17, 2024. Miners are expected to see their rewards reduced from 6.25 to 3.125 bitcoins per block. There is much speculation from enthusiasts and investors about how this halving event will impact the market, leading to significant expectations.
