Bitcoin halving: What it is and how it could impact the price of Bitcoin
Bitcoin halving: What it is and how it could impact the price of Bitcoin What is Bitcoin halving? Bitcoin halving is a pre-programmed event in the Bitcoin protocol that occurs approximately every 210,000 blocks. During a halving event, the block reward, which is the amount of Bitcoin awarded to miners for validating transactions, is reduced by half. This event is designed to control the inflation rate of Bitcoin and ensure that the total supply of Bitcoin will never exceed 21 million. History of Bitcoin halvings There have been three Bitcoin halvings since the cryptocurrency's launch in 2009: November 28, 2012: Block reward reduced from 50 BTC to 25 BTC per block July 9, 2016: Block reward reduced from 25 BTC to 12.5 BTC per block May 11, 2020: Block reward reduced from 12.5 BTC to 6.25 BTC per block The next Bitcoin halving is expected to occur in 2024, when the block reward will be further reduced to 3.125 BTC per block. Impact of Bitcoin halvings on the price of Bitcoin Histor...