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- There is 1 year left until the Halving event in Bitcoin
- Historical data suggests that it has a significant impact on the price of Bitcoin.
There is approximately 1 year left until the Bitcoin Halving, which occurs every 4 years. Will the price rise during Halving? What does Halving mean?
Bitcoin’s Halving Performance is Impressive!
Bitcoin enters a halving process every 210,000 blocks, which occurs every four years. Experts claim that Bitcoin’s halving causes a price increase by reducing the amount of circulating money and creating scarcity.
In particular, halving events have a significant impact on BTC prices. Historical data shows that BTC prices have increased significantly after each halving event.
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Bitcoin’s Performance in Halving
The curves show that Bitcoin prices have increased significantly after halving events. For example, the first BTC halving event occurred in 2012 and it was observed that the BTC price increased by 30%.
The same observation was followed in the subsequent halving events. During these halving cycles, the BTC price increased significantly after each event and prepared for the next one.
What is Bitcoin Halving?
Bitcoin Halving is a concept related to Bitcoin mining and is an event that occurs every 210,000 blocks (approximately every 4 years). This event is the halving of Bitcoin mining rewards.
For example, since the beginning of Bitcoin, the block reward was 50 BTC. The first halving occurred in 2012 and the block reward was reduced to 25 BTC. The second halving occurred in 2016 and the block reward was reduced to 12.5 BTC. The third halving occurred in 2020 and the block reward was reduced to 6.25 BTC.
Halving causes Bitcoin supply to gradually decrease and may cause the price to rise because when there is less Bitcoin available, if demand remains high, the price will rise. Since halving also means less reward for Bitcoin mining, it may reduce the profitability of Bitcoin mining and require miners to make more effort to keep the Bitcoin network secure.
The fourth Bitcoin Halving is expected to occur in April 2024, but it is not possible to determine a specific date because Bitcoin mining does not occur at a predictable rate due to its unpredictable nature. The fourth halving is expected to reduce the block reward from 6.25 BTC to 3.125 BTC.