The Bitcoin halving is a pre-programmed event that occurs approximately every four years or after the mining of every 210,000 blocks. During a halving, the reward for mining a new block of Bitcoin is cut in half.
#When is the Next Bitcoin Halving?
The next Bitcoin halving is estimated to take place on 26 March 2028 19:02:35 UTC
Bitcoin miners that successfully validate transactions are currently awarded 3.125 new Bitcoin for each mined block. This date is based on current estimates that change with every new block.
#What is the Significance of the Bitcoin Halving?
Miners receive 50% less Bitcoin as a reward for their work.
The halving of the block reward is a key feature of Bitcoin’s monetary policy, implemented to control the inflation rate, ensure the cryptocurrency’s scarcity, and increase its value over time.
Each Bitcoin halving event reduces the number of new Bitcoins produced per block.
Resulting in a lower supply.
Bitcoin was created as a deflationary currency similar to gold.
As it becomes scarcer and demand increases, the price likely increases in line with supply and demand economics.
The Bitcoin halving will ultimately cap the total supply of Bitcoin at 21 million coins. Each Bitcoin has 100,000,000 satoshis in it.
This fixed supply is one of the fundamental characteristics differentiating Bitcoin from traditional fiat currencies, which can face inflationary pressures due to central bank policies.
These scarcity-driven price dynamics have historically played a role in Bitcoin’s price appreciation after each halving event. It will be interesting to see how future halving events will impact Bitcoin’s price.
Bitcoin Halving Dates HistoryHere’s a history of all the past Bitcoin halving dates since inception:1st Bitcoin halving date — November 28, 2012 — Reward down: 50 BTC to 25 BTC2nd Bitcoin halving date — July 9, 2016 — Reward down: 25 BTC to 12.5 BTC3rd Bitcoin halving date — May 11, 2020 — Reward down: 12.5 BTC to 6.25 BTC4th Bitcoin halving date — April 19, 2024 — Reward down: 6.25 BTC to 3.125 BTC5th Bitcoin halving date — April 17, 2028 — Reward down: 3.125 BTC to 1.5625 BTC
Bitcoin Halving 2012 (First Halving)
Before the first halving on November 28, 2012, the block reward was set at 50 BTC. After the event, the reward was reduced to 25 BTC per block.
Cryptocurrency mining software Slush Pool was the first to mine the block using a Radeon HD 5800 miner.
Here are the details of the exact block where the reward decreased from 50 BTC to 25 BTC.
Block number: 210,000
Block reward: 25 BTC
BTC created per day: 3,600 BTC
BTC price before the halving date: $12.35
Bitcoin price 1 year later: $964
Bitcoin Halving 2016 (Second Halving)
The second halving occurred on July 9, 2016.
Prior to the halving, the new BTC per block was 25. It was reduced to 12.5 BTC per block.
Block number: 420,000
Block reward: 12.5 BTC
BTC created per day: 1,800 BTC
BTC price before the halving date: $663
BTC price a year later: $2,500
Bitcoin Halving 2020 (Third Halving)
The third halving event occurred on May 11, 2020.
This last Bitcoin halving event reduced the block reward from 12.5 BTC to 6.25 BTC.
Block number: 630,000
Block reward: 6.25 BTC
BTC created per day: 900 BTC
BTC price before the halving date: $8,500
BTC price after: Peaked to $69,000 over the next several months
The fourth halving is estimated to occur at 840,000 based on the block time of around 10 minutes. It’ll bring the block reward down to 3.125 BTC.
Bitcoin Halving 2024 (Fourth Halving)
The fourth halving event occurred on: April 20th, 2024
Block number: 840,000
Block reward: 3.125 BTC
BTC created per day: 450 BTC
New total supply of Bitcoin: 656,250
Bitcoin Halving 2028 (Fifth Halving)
The fifth halving is expected to occur on March 26th, 2028
Block number: 950,000
Block reward: 1.5625 BTC
BTC created per day: Estimated to be 225 BTC
BTC price before the halving date: $61,100
New total supply of Bitcoin: 328,125
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