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Author: Admin | 2025-04-28
Automatic and occurs without human interference. Halving events will continue every four years until the rewards reach exhaustion after 21 million Bitcoins are mined. Experts predict this to occur by 2140.To gain a better understanding of different consensus mechanisms used in the cryptocurrency space, consider reading this detailed article by DroomDroom.Bitcoin halving has occurred thrice since its creation and launch in 2008. The first halving occurred on the 28th of November 2012. Before the halving, the reward for mining a block was 50 BTC. When the halving happened, the block rewards were reduced to 25 BTC. The price of Bitcoin surged in the months and years following the halving, reaching over $1,100 by the end of 2013, marking a significant gain from the pre-halving levels.The second halving occurred on 11th July 2016. The block rewards were reduced to 12.5 BTC for each block mined. Before the halving, in April 2016 to be precise, the price of Bitcoin was around $417 (USD). But, the price rose to $650 (USD) in July. By January 2017, the value and price rose to $920 (USD).The third Bitcoin halving occurred on the 11th of May 2020. Miners were rewarded with 6.25 new BTC. As a result of the regulated supply, the value of Bitcoin rose again. The price of Bitcoin was around $5,300 (USD) in March 2020, but the price rose to $9,600 (USD) in May 2020. By the end of 2020, the price had risen to $30,000 (USD). In January 2021, it rose from $30,000 (USD) to almost $42,000 (USD). Experts predict that the next Bitcoin halving will occur in April 2024.This tweet provides a visual of post-bitcoin halving with a significant price increase: The 1st halving in 2012 resulted in a 10,000% increase ($11 -> $1,150)The 2nd halving in 2016 resulted in a 3,000% increase ($650 -> $20,000)The 3rd halving in 2020 results in a 630% increase ($8,800 -> $69,044 ATH!)Reminder, The 4th #Bitcoin halving is less than 122… pic.twitter.com/a1wxhw6SXV— Elja (@Eljaboom) December 11, 2023What Are The Implications of Bitcoin Halving?Bitcoin’s halving has several consequences. The impact is usually experienced or felt across the entire crypto landscape. Let us go over some of these implications.Decrease in Miners And an Increase in The Demand for Cost-Saving Mining DevicesA slash in the rewards may be discouraging for many, as mining won’t be as profitable. Many may decide to discontinue. Others who choose to remain will
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