Bitcoin halving dates are one of the most important days in the cryptocurrency ecosystem — typically leading to increased attention from the mainstream press and higher prices for BTC and other digital assets!
In this guide, we’ll break down everything you need to know about Bitcoin halving dates — including data about BTC’s performance after past halvings!
Bitcoin halving is a pre-programmed event that occurs approximately every four years, where the reward for Bitcoin mining is cut in half. Because of the reduction in the supply of new Bitcoin, halvings typically result in an increase in the price of BTC.
What is the next Bitcoin halving date?
The next Bitcoin halving is scheduled to take place in April 2024. Bitcoin rewards will be cut from 6.25 to 3.125.
Bitcoin halving chart
Here’s a look at how Bitcoin’s price has changed in recent years, including before and after each halving date.
How does Bitcoin halving work?
Bitcoin relies on Proof of Work (PoW) to validate transactions. In return for using electricity and computation to solve complex math problems, Bitcoin miners receive a portion of newly-created BTC.
Bitcoin’s underlying software halves rewards for miners every 210,000 blocks — or approximately every four years — which ensures that the total supply of Bitcoin will never surpass 21 million units.
After each halving event, some miners may be forced to shut down their operations, and the hashrate (computing power) of the Bitcoin network may decrease temporarily. However, reduced supply typically leads to higher prices.
Fun Fact: 98% of all Bitcoins ever created will be mined by 2032.
How does the Bitcoin halving impact the wider cryptocurrency market?
In the past, Bitcoin halvings have led to rallies in the wider cryptocurrency market. It’s possible that halvings lead to increased attention on the crypto ecosystem — which in turn leads to higher demand and higher prices for all digital assets.
When was the last Bitcoin halving date?
The last Bitcoin halving took place on May 11, 2020. The reward for mining a block of Bitcoin fell from 12.5 to 6.25.
After this Bitcoin halving, the cryptocurrency market went on a bull run, with the price of Bitcoin increasing by 5x in the next calendar year (though it’s likely that this can be attributed to multiple factors, including global economic conditions in the wake of the COVID-19 pandemic).
What will happen after Bitcoin halving in 2024?
Bitcoin halvings reduce the total available supply of BTC. As a result, they’ve typically led to an increase in the price of Bitcoin.
While there was a significant surge in the price of Bitcoin and other cryptocurrencies after each halving date, it’s important to remember that there are a multitude of factors that determine the price of cryptocurrency — such as global economic factors and regulatory conditions.
For more information, check out our guide on how cryptocurrencies gain value.
What is the significance of the Bitcoin halving?
Remember, Bitcoin is designed to be an alternative to fiat currencies like the US dollar with high levels of inflation. The Bitcoin halving is a necessary event to control the supply of BTC.
Bitcoin halving reduces the block reward given to miners, effectively lowering the rate at which new bitcoins are created. This mechanism is intended to mimic the scarcity of resources like gold.
Increase in value
The halving events decrease the supply of new BTC entering the market. This reduction in new BTC is expected to drive up price, following the basic principles of supply and demand.
Alternative to fiat currencies
Halving events help differentiate Bitcoin from fiat currencies like the US dollar — where supply increases and purchasing power diminishes over time.
Fun Fact: $100 in 2024 has the same value as $80 in 2018 — highlighting how inflation has reduced the average American’s spending power! Meanwhile, the price of Bitcoin has risen from $20,000 to $70,000 in the same time period!
Bitcoin halving dates history
Since Bitcoin’s creation, there have been three halving dates:.
While the immediate impact on bitcoin's price may not be significant, the halving is expected to have long-term effects on the supply-and-demand dynamics of the cryptocurrency. As the supply of new coins decreases, bitcoin's scarcity increases, which could lead to price appreciation over time.
Bitcoin halving isn't a big deal for long-term investors, but may have a 'huge' impact on one key group, says Columbia professor. Bitcoin's “halving” is expected to happen soon. But its potential impact depends on your relationship to the coin; it's likely to affect miners and investors differently.
Generally, halving seems to have triggered price increases in the past. According to research by crypto tax consultancy CoinLedger in the six months following the last two halvings, the value of BTC increased by 51% and 83% respectively.
Altcoins (alternative coins), essentially any cryptocurrency other than Bitcoin, are set to receive a knock-on effect from the halving. The interconnectedness of Bitcoin and altcoins goes well beyond price correlation.
Chair of the U.S. Federal Reserve, Jerome Powell, has indicated that the central bank may have reached the peak of its rate hike cycle, which Sciberras thinks could be a catalyst for a bitcoin rally in 2024.
If Bitcoin starts to go on another post-halving rally, this number could spike even more, leading to an even higher Bitcoin price, leading to... you get the idea. This cycle could easily last 12 months or more. So, yes, you should be buying Bitcoin ahead of the halving.
JPMorgan said it expects bitcoin to fall after the reward halving. The bank's analysis shows that the cryptocurrency remains overbought. Miners will be most affected by the event, the report said.
The Bernstein analysts said that the halving itself does not lead to bitcoin price appreciation without new demand. While the miners will earn less bitcoin in subsidy rewards post-halving and, therefore, have less to sell to the market, this potential sell pressure has fallen significantly over time.
Bitcoin's “halving” is here. The event will see the supply of newly minted coin cut by 50%—this time it will drop from 6.25 to 3.125—and is expected in the coming hours.
Thomas Perfumo, head of strategy at Kraken, said Bitcoin prices historically peak 12 months to 18 months after a halving event but noted that the cryptocurrency already hit an all-time high less than two months ago, “which is earlier than in prior market cycles.”
This halving, scheduled to occur on or about April 20, will reduce Bitcoin's supply growth to roughly 0.8% a year. The effect of halvings has historically been dramatic, and this one is shaping up to be just like the past. Here's why Bitcoin is still worth buying before April 20.
Also, Bitcoin Halving can also be a contributing element to the growth of the ETH trading value. If ETH keeps on growing, it has the potential to overcome its all-time high.
Bitcoin Halving appears to be fueling the next bull run to happen in 2024. Investing in the best altcoins can be rewarding as they offer diversification and potentially higher returns. However, it is important to approach the altcoin landscape with caution and do a thorough research.
The monetary policy of Bitcoin allows for a total of 32 halvings of which three took place since its inception. So, there are 29 halvings left which amounts to roughly 116 years. The last halving will be in 2140.
The Bitcoin price prediction for 2025 is currently between $ 70,785 on the lower end and $ 168,544 on the high end. Compared to today's price, Bitcoin could gain 142.47% by 2025 if BTC reaches the upper price target.
In 2025, Bitcoin is projected to potentially surpass $100,000, with predictions indicating a rise to $1.5 million by 2030 and extending into multi-million dollar valuations by 2040 and 2050.
Introduction: My name is Velia Krajcik, I am a handsome, clean, lucky, gleaming, magnificent, proud, glorious person who loves writing and wants to share my knowledge and understanding with you.
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