"The Bitcoin halving" is when the reward for Bitcoin miners to receive for validating blocks is cut in half. This takes place every four years as the duration of every 210,000 blocks to be mined!(Added to the bitcoin blockchain). The exact time of the halving event depends on the speed at which new blocks are mined, which can vary due to factors such as changes in the network's hash rate.
The following is a list of Bitcoin halving events that have occurred since 2012:
First Bitcoin Halving: November 28, 2012 Block Height: 210,000 Block Reward: 50 BTC before halving, 25 BTC after halving
Second Bitcoin Halving: July 9, 2016 Block Height: 420,000 Block Reward: 25 BTC before halving, 12.5 BTC after halving
Third Bitcoin Halving: May 11, 2020 Block Height: 630,000 Block Reward: 12.5 BTC before halving, 6.25 BTC after halving
Fourth Bitcoin Halving: Expected in 2024 Block Height: 840,000 Estimated Halving Date: April 2024 Estimated Block Reward: 6.25 BTC before halving, 3.125 BTC after halving that we will be expecting to see Price of BTC at $120K
So, if we closely observe the data, past Bitcoin halving events have been able to establish long-term bullish drivers for Bitcoin's price. The Bitcoin halving event directly relates to its deflationary tendency and squeezes its supply causing demand to rise ,this helps the BTC price to rise further.
Now, the last halving will occur in 2140. At that point, there will be 21 million BTC in circulation and no more coins will be created. From there, miners will just be paid with transaction fees!
