Bitcoin Halving:
A crypto’s journey to new beginnings

When it’s halving day, the number of newly created Bitcoins is cut in half. Why does this happen and what does it mean for the blockchain? Let us shed some light upon this epic crypto event.

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Similar to leap years, Bitcoin Halving occurs approximately every four years and has the dual benefit of reducing inflation and creating new value.

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*Link will take you to CoinMarketCap’s Academy course on bitcoin halving.

What halving really is

Miners are individuals or companies that use powerful computers to validate and record transactions on the Bitcoin blockchain in exchange for Bitcoin rewards.

Halving is the moment when which occurs when 210’000 blocks have been created by miners, roughly every 4 years. This maintains a limit of 21 million, which keeps inflation in check.

The last event, in May 2020, reduced rewards from 12.5 to 6.25 BTC per block, which is crucial for bitcoin’s sustainable value and scarcity. The next halving will reduce rewards to 3.125 BTC per block. A must see for crypto fans!

Maximum Bitcoin supply ¹

21’000’000 BTC

Current circulating Bitcoin supply ²

19’582’762 BTC

Number of blocks per halving ³

210’000

Average mining time for 1 block ⁴

~10 minutes

1 The maximum number of coins that will ever exist in the lifetime of the cryptocurrency.
2 The amount of coins circulating in the market and held by the public. Data at the time of writing (28/12/2023).

3 Bitcoin mining rewards will be halved every four years, ensuring that fewer Bitcoins will be added to circulation until the very last Bitcoin is mined. The last Bitcoin is expected to be mined in 2140.
4 Since the block time of the network is about 10 minutes, you can calculate that the time between halving events is a little less than 4 years. Calculation: 210’000 blocks = (210’000 * 10) minutes or 3.9899 years.

Halving and prices

The price of Bitcoin is often expected to spike before a halving due to the anticipation of a reduced supply of new Bitcoins, leading many to speculate that this scarcity will increase demand and thus drive up the price.

It’s a classic case of supply and demand dynamics at play, where the expectation that fewer new Bitcoins will be available in the future can create a rush to buy them now, potentially pushing the price higher.

Supply scarcity

The halving of Bitcoin regulates the rate of issuance and preserves a limited supply of 21 million coins. Each Bitcoin may increase in value due to the increased demand caused by this shortage.

Inflation safeguard

Halving mitigates inflation by reducing the rate at which new bitcoins are created. Those looking for a valuable store of wealth similar to precious metals such as gold may find this characteristic appealing.

Economic confidence

Events like halving are planned and predictable, which gives confidence to the Bitcoin ecosystem. A sense of stability in Bitcoin’s long-term value proposition is fostered by users’ and investors’ awareness of the progressive reduction in fresh supply.

Bitcoin rewards per halving

The number of Bitcoin supply slowly rising, while the block reward shrinks. This scarcity is like the secret spice, making Bitcoin more valuable as time goes on. Think of it like a limited-edition collector’s item, except instead of gathering dust, it’s being used for digital cash and more. So, while the supply steadily grows, the rewards for miners become smaller.

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What is Bitcoin Halving?

Bitcoin Halving halves the miners’ reward, making BTC scarcer. This scarcity can increase the value and affect the potential growth of your investment.

Ready to find out more about Bitcoin Halving? Click here.

When is the next Bitcoin Halving?

The 2024 Bitcoin Halving will occur at 840’000 block height (or blocks mined), which is going to happen around mid-April, 2024. Here are the past Bitcoin Halving events:

Bitcoin was born, January 2009, Genesis block, 50 BTC
First halving, November 2012, 210’000, 25 BTC
Second halving, July 2016, 420’000, 12.5 BTC
Third halving, May 2020, 630’000, 6.25 BTC

What happens to my Bitcoin after a halving event?

Your Bitcoin remains intact after a halving event. The scarcity effect of the event could increase its value over time, much like a fine wine that ages gracefully.

Can I use Stop Loss and Limit Orders to trade Bitcoin?

We only offer Limit Orders to buy and sell Crypto. This means that your Bitcoin will be bought or sold when a certain price is reached.

How does Bitcoin Halving impact the crypto market?

Bitcoin Halving often increases market attention, potentially affecting not only BTC, but other cryptocurrencies as well. It’s seen as a sign of maturing market dynamics, which can lead to increased investor interest and speculative activity across the board.

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