💥💥Halving Schedules for Bitcoin - Price of Bitcoin One Month After Past Halvings
The Bitcoin halving of 2024 is coming up in just a few hours. Due to a number of geopolitical developments, the market has been experiencing more volatility, leading to unexpected drops in price..
Currently, Bitcoin is trading for more than $64,000, a gain of more than 4% over the last 24 hours according to CoinMarketCap.
Whenever Bitcoin underwent a halving in its previous cycles, the price of the coin soared to new heights as a result. Now that Bitcoin has broken new all-time highs in the lead-up to the event, though, it's possible that the past won't repeat itself.
It is interesting to study the values that Bitcoin managed to reach one month after each former event, even though this halving will be somewhat different from the past ones, according to several analysts.
The 2012 halving
November 28th, 2012 was the date of the halving. Before the halving, the block reward was 50 BTC; following the event, it was reduced to 25 BTC.
About $10.26 was the price of Bitcoin one month prior to the halving. The price went up to about $13.42 after the cut.
The 2016 halving
July 9 was the date of the 2016 halving. After the occurrence, the block reward went down from 25 BTC to 12.5 BTC.
The price of bitcoin increased from $583.11 one month prior to the halving to $597.50 one month following the halving. A low of $670 was reached at the time of the halving, and by July 2017, the price had risen to $2,550.
The 2020 halving
Dated May 11, 2020, was the previous halving. From 12.5 BTC to 6.25 BTC, the block reward decreased.
The price of Bitcoin was about $6,909.95 before the halving, and it rose to over $9,850 a month after the occurrence. From around $11,000 in October 2020 to around $60,000 by March 2021, the price had a tremendous surge in late 2020.
The Bitcoin halving is scheduled for 2024
Around 10 hours from now, Bitcoin will undergo its halving event, which will reduce the rewards given to Bitcoin miners every block from 6.25 BTC to 3.125 BTC.
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