ALL YOU NEED TO KNOW ABOUT BITCOIN HALVING
The Bitcoin halving cycle refers to the recurring event that reduces the blockchain rewards paid in bitcoin and given to miners for validating transactions and creating new blocks on the blockchain. This reduction occurs approximately every four years, specifically when the number of total blocks on the Bitcoin blockchain reaches a certain threshold, currently set at 210,000 blocks.
....WHAT CONTROLS BITCOIN HALVING....
The Bitcoin algorithm dictates halving happens based on a certain creation of blocks. Nobody knows exactly when the next halving will occur, but experts point to May 2024 as an anticipated date. That would be almost exactly four years since the last one.
...BRIEF HISTORY OF BITCOIN HALVING....
The first halving occurred on November 28, 2012, when the block reward was reduced from 50 to 25 Bitcoins. This event was followed by a notable increase in Bitcoin's price, a pattern that has been observed with subsequent halvings.
The second halving took place on July 9, 2016, reducing the reward to 12.5 Bitcoins, and was again followed by a significant price surge in the following year.
The most recent, the third halving, occurred on May 11, 2020, further reducing the reward to 6.25 Bitcoins.
Each halving event has led to speculative anticipation, increased media attention, and considerable price volatility leading up to and following the event.
...WHEN IS THE NEXT BITCOIN HALVING...
The next Bitcoin halving is expected on April 20, 2024 after block 740,000 has been mined. It will reduce the block reward from 6.25 BTC to 3.125 BTC.
This will be the fourth halving in Bitcoin history. The fifth halving is expected to occur in 2028, after block 850,000 has been mined.
I'll be positing more information as with regards to bitcoin halving. Everything you need to know. stay informed and preparedđ
