Bitcoin, the world's first cryptocurrency, has an important pre-programmed feature: The reward miners receive for including transactions in a block is not permanent. After every 210,000 blocks mined, the block reward is halved. This event occurs approximately every 4 years and is called the "halving". If you want to learn more about the halving and its purpose, you can learn much more about the Bitcoin halving in our other article. In this article, we will review previous Bitcoin halving dates and their correlation with price history, while also taking a quick look at the future of halvings and everything that might happen around this phenomenon. PERIOD BEFORE THE HALF

The first block of the Bitcoin blockchain, also known as the "Genesis Block" or "Block 0", was mined on January 3, 2009 by the coin's enigmatic creator known only as Satoshi Nakamoto. This creator of Bitcoin set the first block reward at 50 BTC. Since Bitcoin had no monetary value in those days, there was no real incentive to participate in mining, and Satoshi was almost the only miner who did. However, as early as March 17, 2010, BitcoinMarket.com became the first Bitcoin exchange. This led to a rapid increase in interest in this new currency, and in the spring of 2011, the price of Bitcoin exceeded $1.

Even though 50% of existing Bitcoins were mined in a fairly short period of time before the first halving and the Bitcoin supply increased quite rapidly, the price of Bitcoin rose from $0 to $12 at this stage.

2012 Bitcoin halving

The first halving took place on November 28, 2012. At first, the halving did not have a noticeable impact on Bitcoin's price. However, at the beginning of 2013, the value of the coin in question began to rise steadily, leading to a correction in April before continuing to do so again in the fall of 2013, rising above $1,100. This was followed by a prolonged decline in prices, which fell to $152 on January 14, 2015. Finally, in October 2015, 9 months before the next halving, steady growth resumed.

First halving

2016 Bitcoin halving

The second halving took place on July 9, 2016. This date was eagerly awaited by the crypto community. These expectations, combined with the sharp rise in recognition and acceptance of Bitcoin, led to a noticeable price increase that began almost at the end of May, a month and a half before the halving. However, a correction took place in mid-June, and shortly after the halving itself, the price in question fell again, reaching the local minimum May levels.

As it turned out later, this was just a short-term fix. The upward trend continued in a short time and turned into exponential growth. This growth peaked on December 17, 2017, when the price reached an all-time high of $19,700. After that, a long downward trend began.

There were various reasons for this increase in price; It is impossible to say what role the halving plays. In 2017, the popularity and acceptance of Bitcoin and other cryptocurrencies increased rapidly, attracting a large number of new participants to the crypto market. This in turn led to the emergence of an 'ICO bubble' and further increased the demand for Bitcoin as many ICOs accepted Bitcoin.

Second halving

2020 Bitcoin halving

Like the previous Bitcoin halving, the third halving, which took place on May 11, 2020, did not cause a sudden price increase. It is true that such growth began earlier in the year, around the halving days, but the coronavirus crisis that started in March caused the price of Bitcoin to collapse. This makes it even more difficult to evaluate how much halving has already occurred in the price. At the same time, it should be noted that the current amount of Bitcoin mined is quite small compared to the total amount of Bitcoin traded, and a relatively small decrease in supply is unlikely to cause a significant price increase. Therefore, a possible future increase in Bitcoin price will be much more influenced by an increase in demand rather than a decrease in supply.

Third halving

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