Bitcoin Halving Countdown

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What is the Bitcoin Halving?

The Bitcoin Halving is one of the most important features of the Bitcoin protocol. Approximately every four years (210,000 blocks), the amount of BTC that is rewarded for successfully mining a block is cut in half (not including transaction fees). The Bitcoin Halving cycle is a predictable, immutable method of fairly distributing new coins through a proof-of-work process.

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The Impact of the Bitcoin Halving on Price

Each Bitcoin Halving reduces by 50% the supply of new BTC coming into circulation. This supply-control mechanism, modeled in part on precious metals mining, makes Bitcoin increasingly scarce over time. Bitcoin’s rate of inflation will continue to decrease until it is 0% when all 21,000,000 BTC have been mined, which is projected to occur in the year 2140.

As a result of the basic principles of supply and demand, Bitcoin has historically experienced dramatic price volatility leading up to and following each previous Halving. The Halving is widely considered to be one of the most important factors affecting the price of Bitcoin, as illustrated by the chart below, and few believe that the 2024 Halving will be different.

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Bitcoin Halving History

Nov

2012

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First Halving
Price: $12
The first Bitcoin Halving occurred on November 28, 2012, when the block reward was reduced from 50 BTC per block to 25 BTC. This event marked the first significant test of Satoshi Nakamoto's theory abouts the impact of supply reduction on Bitcoin's price and miner incentive structure.

Jul

2016

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Second Halving
Price: $640
The second Bitcoin Halving occurred on July 9, 2016, further reducing the block reward to 12.5 BTC. This event played a crucial role in fueling discussions about Bitcoin's potential as a store of value in the future.

May

2020

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Third Halving
Price: $8,600
The third Bitcoin Halving occurred on May 11, 2020, further reducing the block reward to 6.25 BTC. This event happened amidst increasing interest in cryptocurrencies overall, highlighting Bitcoin's ongoing maturation as a financial asset.

Apr

2024

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Fourth Halving
Price: $63,851
The next Bitcoin Halving is expected to occur in April 2024, when the reward will decrease to 3.125 BTC per block. This four-year Bitcoin Halving cycle will continue until 2140, when all 21 million BTC will have been mined.

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