THE EVOLUTION OF BITCOIN HALVING 2024

In Aprile 2024, the block reward, it’s gonna be reduced from 6.25 Bitcoin per block down to 3.125 Bitcoin per block. This here countdown clock we have, it keeps track of all that for us. The last Bitcoin halving went down on Apr 20 2024, at 05:39:27.

You got questions about the Bitcoin halving cycle, previous dates, or the block reward schedule? Let’s get to it.

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The Bitcoin Halving is a event- pre-programmed one that lessens the reward handed to those cryptocurrency miners by about half. This thing happens like clockwork, every four years. Reason the Halving’s essential is it keeps the supply of Bitcoin checked and doesn’t let inflation run wild. Because of the reduction of mining rewards, Bitcoin demand’s expected to spike??? Its value is expected to get a boost in response. Expect this here thing to happen every 210,000 blocks; or, give or take, every four years. The most recent halving was, like, in May 2020, where the reward got down from 12.5 to 6.25 BTC per block. That Bitcoin Halving plays one of them important roles in, you know, the long-term viability and scarcity of Bitcoin.

Nov 28th, 2012: The First Cut

BTC Price: $12.20

The first halving sliced off the first 50% of the Bitcoin mining reward – 50 to 25 Bitcoins per block. Then, nobody knew what impact the halving was gonna have. Folks was watching with their fingers crossed, ’cause the closing price on halving day was ($12.20). After the first halving in 2012, in the next few months, network hash rates and difficulty, it dropped ’cause miners who didn’t find it profitable no more switched off the machines, to cut their losses.

However, by early 2013, Bitcoin started its first high-speed bull run, jumping from $13 to over $1,000 by the end of the year! What they was scared about, the miner capitulations, turned out to not be that big a thing after all. The network kept going, and the Bitcoin community, they learned something valuable: Halvings are good for the Bitcoin network, and for the price of Bitcoin.

July 9th, 2016: Ready for a Boom

BTC Price: $640.56

The second halving cut the block reward by yet another 50%, bringing it from 25 to 12.5 BTC. Folks was already memory of 2012, and expected another bull run thanks to the halving; Many was predicting a price increase, big time. But there was also those who warned that a smaller mining reward might lower mining profits and that could hurt the network. We all know what happened next…

In 2017, Bitcoin went on an incredible bull run and its price shot up to nearly $20,000 by the end of the year. This was the first time cryptocurrencies were in the spotlight globally! That set the stage for an even bigger rise four years down the lane…

May 11th, 2020: Million Times More

BTC Price: $8,605

The third halving, it none other than halved the mining reward again! So predictable, yet earth-shattering. The mining reward got cut to 6.25 BTC per block setting the stage for Bitcoin to go on another bull run with speculations going about new institutional adoptions and Bitcoin serving as a hedge for inflation.

Post the halving, Bitcoin’s price surged again! The community was ready this time, they had learnt the lesson already. While the halving day was eagerly expected the real celebrations did not commence, until the phenomenal bull run in 2021. Many look forward history to repeat in 2024.

2024 and Next

BTC Price: $25,764 (Sept 7th, 2023)

The next halving, would have ever thought of it, it will reduce the mining reward again; down to 3.125 BTC per block. Everyone in the Bitcoin community is eagerly expecting. This occasion.. It’s gonna make Bitcoin’s supply even rarer and, hopefully, would kick off a new bull market.

Bitcoin’s own built-in halvings, it’s quite something ain’t it, provides predictable control over its supply issuance. Other cryptocurrency has tried to copy this model, but nothing to do with the same level of success as Bitcoin when it comes to halvings and inflation reductions.

Sure, there’s some critics arguing that halvings, they’re not really necessary… Bitcoin’s supply could just have been capped at 21 million and all units pumped out straight away! But Satoshi, well, he smartly saw the importance of gradual, rule-based issuance and its role in making Bitcoin more widely used. Without halvings, Bitcoin would not be where it is today. Simply put.

Halvings, they also forge the bond between each generation of Bitcoin users. Folks who took part in the first ever halving in 2012, they’ve seen the community passing all sort of milestones. And those who joined after 2020, well, they look at previous halvings to understand about Bitcoin’s roots. Halvings, you can say, reminds us all of how far we’ve come and the places we’ve yet to go.