Next Bitcoin Halving: April 20th, 2024 History and What to Know! (2024)

Next Bitcoin Halving Date

What is'Bitcoin Halving'?

When isthe Next BitcoinHalving?

The next Bitcoin halving isestimated totake place onApril 20th, 2024, only 10 days away now.

Bitcoin miners that successfully validate transactions are currently awarded 6.25 new Bitcoin for each minedblock. This date isbased oncurrent estimates that change with every newblock. The halving will reduce the block reward to3.125 BTC.

What isthe Significance ofthe BitcoinHalving?

The halving ofthe block reward isakey feature ofBitcoin’s monetary policy, implemented tocontrol the inflation rate, ensure the cryptocurrency’s scarcity, and increase its value overtime.

The Bitcoin halving will ultimately cap the total supply ofBitcoin at21 million coins. Each Bitcoin has 100,000,000 satoshis init.

This fixed supply isone ofthe fundamental characteristics differentiating Bitcoin from traditional fiat currencies, which can face inflationary pressures due tocentral bankpolicies.

These scarcity-driven price dynamics have historically played arole inBitcoin’s price appreciation after each halvingevent. Itwill beinteresting tosee how future halving events will impact Bitcoin’sprice.

Bitcoin Halving Dates History

Here’s ahistory ofall the past Bitcoin halving dates since inception:

Miners receive 50% less Bitcoin asareward for theirwork.

Bitcoin Halving 2012 (First Halving)

Before the first halving onNovember 28, 2012, the block reward was set at50BTC. After the event, the reward was reduced to25 BTC perblock.

Cryptocurrency mining software Slush Pool was the first tomine the block using aRadeon HD5800miner.

Here are the details ofthe exact block where the reward decreased from 50 BTC to25BTC.

Bitcoin Halving 2016 (Second Halving)

The second halving occurred onJuly 9, 2016.

Prior tothe halving, the new BTC per block was25. Itwas reduced to12.5 BTC perblock.

Bitcoin Halving 2020 (Third Halving)

The third halving event occurred onMay 11, 2020.

This last Bitcoin halving event reduced the block reward from 12.5 BTC to6.25BTC.

The fourth halving isestimated tooccur at840,000 based onthe block time ofaround 10minutes. It’ll bring the block reward down to3.125BTC.

Here’s aquick recap ofall the Bitcoin halving schedule (past and future) until 99% ofthe Bitcoin aremined.

When Will All 21 Million Bitcoin BeMined?

Given the current trajectory, Bitcoin halving islikely torepeat every four years (roughly) until the block reward becomes zero. It’s difficult tosay what the future price orreward trends will look like.

The Bitcoin numbers and rewards halve eachevent. Based onthe current Bitcoin halving cycle and schedule, 100% ofall Bitcoin will be mined sometime around the year 2140.

What toKnow: 98% ofthe total Bitcoin supply will bemined by2032.

How Does the Bitcoin HalvingWork?

Bitcoin halving reduces the rate atwhich new Bitcoin are created and introduced into circulation.

The process isprogrammed into the Bitcoin protocol and controls the supply and demand ofBitcoin.

Here are some ofthe steps involved inaBitcoin halving:

Bitcoin halving events often generate alot ofinterest and speculation inthe cryptocurrencymarket. Anticipating lower supply and potential demand increases can contribute topricevolatility.

During previous halving events Bitcoin price experienced both pre-halving rallies and subsequent price increases inthe months and years following the event.

However, Bitcoin’s price isinfluenced byaamultitude ofvarious factors and isn’t solely determined byhalvingevents.

While the halving isoften associated with positive price movements inBitcoin, itdoes not guarantee animmediate orautomatic increase inprice.Every halving leads tosmaller increases inthe circu­lating supply ofBitcoin.

Supply shocks can potentially impact the configuration and scale ofBitcoin’s price fluctuations before and after each halvingevent. Nonetheless, the proportion ofnew supply inrelation tothe existing supply has diminished due tothe reduction inthe scale ofthese shocks from one halving occurrence tothe subsequentone.

Over time, wecan anticipate the influence ofsupply shocks onBitcoin’s price surges will become notably lesspronounced. Consequently, weshould foresee less substantial shifts inBitcoin’s price from the trough tothe peak that stem from halving events.

The peaks inprice will beofareduced scale asthe corresponding supply shocks become progressively lessimpactful.

Various factors, including market sentiment, overall demand for Bitcoin, investor speculation, and external events, influence the market’s reaction tothe halving.While historical trends suggest that the halving has contributed toprice appreciation over the long term, short-term price movements can beunpredictable and subject tomarketdynamics.

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