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Author: Admin | 2025-04-28
$1,032 (more than 8,500%) in less than a year. This significant increase in value was driven by a combination of factors, including increased demand from investors and speculators, growing acceptance of Bitcoin as a legitimate form of currency, and the perception of scarcity due to the halving event. Additionally, the reduced block reward meant that fewer Bitcoins were being created, which further contributed to the increase in value. 210,000 blocks had been mined by this point, and half of the 10.5 million Bitcoins in circulation had been released.The second Bitcoin halving in 2016The cryptocurrency community eagerly anticipated the date of this second halving. In addition, Bitcoin was gaining acceptance and popularity among investors, resulting in a short-term price increase before the July 9 halving date.When the 420,000th block was mined, the Bitcoin block reward was cut in half again, to 12.5 BTC. Bitcoin was trading at $651 at the time. Bitcoin experienced a free fall just a few weeks after the halving. However, this was merely a pause before an exponential rise, as the price of one bitcoin reached an all-time high of $20,089, 526 days after the halving. The third Bitcoin halving in 2020The third halving occurred amid several uncertainties, particularly the impact of the COVID-19 crisis, which caused the price of Bitcoin to crash in March. However, Satoshi's economics have proven to be remarkable, as Bitcoin has been on an upward trend.On May 11, the block reward was cut in half, from 12.5 to 6.25 at the 630,000th block. At the time, Bitcoin was trading for around $8,787/BTC. Bitcoin reached a high of around $66,000 18 months later.The next halving is expected to occur near April 13, 2024, at block 840,000, where block rewards will be cut in half to 3.125 BTC.When is the next Bitcoin halving event?The fourth Bitcoin halving is expected to take place in the middle of April 2024. As halvings occur every 210,000 blocks, the 2024 halving will take place on block 840,000, at which point the block reward for miners will be reduced by 50%, from 6.25 BTC to 3.125 BTC.What happens when Bitcoin halves?The primary and most noticeable change that occurs during a Bitcoin halving is a reduction in the mining reward. Bitcoin miners' rewards for successfully mining a new block are cut in half. The number of newly created bitcoins that enter circulation is reduced by halving.As the block reward is
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