Bitcoin Halving 2024
Bitcoin Halving 2024
When Is the Next Bitcoin Halving in 2024?
When Is the Next Bitcoin Halving in 2024?
Estimated date for next Bitcoin Halving: April 17, 2024
Estimated date for next Bitcoin Halving: April 17, 2024
Bitcoin Halving Historical Analysis
The Bitcoin halving is an event that cuts the reward for mining Bitcoin in half every four years or every 210,000 blocks.
This makes new Bitcoins harder to create and helps keep Bitcoin scarce. It’s like a rule to make sure there are never more than 21 million Bitcoins.
| First Halving | Second Halving | Third Halving | |
|---|---|---|---|
| Date | Nov 28, 2012 | July 9, 2016 | May 11, 2020 |
| Price of BTC | $12 | $660 | $8,600 |
| Price (6 months later) | $130 | $900 | $15,700 |
| Mining Reward (Start 50) | Reduced to 25 BTC | Reduced to 12.5 BTC | Reduced to 6.25 BTC |
| 1st Halving | 2nd Halving | 3rd Halving | |
|---|---|---|---|
| Date | Nov 28, 2012 | July 9, 2016 | May 11, 2020 |
| Price of BTC | $12 | $660 | $8,600 |
| Price (After 6 M) | $130 | $900 | $15,700 |
| Mining Reward | 25 BTC | 12.5 BTC | 6.25 BTC |
Why is Bitcoin Halving important?
It increases Bitcoin’s scarcity, potentially increasing value and limiting Bitcoin supply to 21 million. The rewards to miners securing the network get reduced by half, thereby impacting the rate at which new Bitcoins are introduced in circulation.
Why does Bitcoin have a hard cap of 21 million?
The 21 million hard cap is not explicitly mentioned in any code. The monetary policy behind Bitcoin was inferred from the halving schedule and the initial rewards.
The first rewards were 50 BTC for each block mined, and this reward halves every 210,000 blocks. If we project this into the future, by the year 2140, all Bitcoins would have been mined, and the miner reward will become negligible. The figure of 21 million is deduced by summing the total rewards until the last Bitcoin is mined.
What happens after all 21 million Bitcoins have been mined?
Bitcoin was always meant to be finite in supply due to its deflationary characteristics.
By 2140, 99.9% Bitcoins would have been mined and miners would no longer be rewarded for validating the block. Beyond this, miners will rely on transaction fees for validating the block.
How does Bitcoin halving impact BTC Hodlers?
Bitcoin halving is a preprogrammed event and BTC holders need not worry about it.
However they need to be aware of increased market volatility and price fluctuations around the time of halving. Holders would be advised to account halving in a calculative and informed manner while considering their risk tolerance and investment goals
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