We’re about two weeks out from the next Bitcoin halving, and you might be wondering, "How will it affect crypto and the bitcoins I hold?" It's a great question. Our answer: Relax — the halving won't directly impact any of your existing bitcoin holdings.
The halving simply reduces the reward that miners receive for mining blocks by 50%.
How the 2024 ‘Halving’ Could Impact Bitcoin
We did a little digging around in the numbers, and the data suggests it has taken around 406* days for prices to peak after a halving.
Mega Important Disclaimer: Past performance does not guarantee future results. While many believe halvings drive these rallies, other factors are at play and future outcomes remain uncertain.
Halving #1 - November 2012
While scientists were busy finding the Higgs-Boson particle at CERN, by November 2012 Bitcoin was beginning to find its feet in the financial jungle. With 11 million bitcoins in circulation, the first halving cut the block reward for miners from 50 BTC to 25 BTC.
Exactly one year later (November 28, 2013), bitcoin was up 7,431%.
Halving #2 - July 2016
As the Pokémon GO craze began sweeping the world, by July 2016 Bitcoin was gaining broader traction as a mainstream financial tool. The second halving of block rewards from 25 BTC to 12.5 BTC was met with increased anticipation.
After the event, prices surged again. By July 9, 2017, exactly one year after this halving, prices had increased by 279%.
Halving #3 - May 2020
Bitcoin’s third halving coincided with the global pandemic, making it a unique test for the leading cryptocurrency. With block rewards cut to 6.25 BTC, many were wondering if prices would continue the historic post-halving trend.
By May 11, 2021—exactly one year after this halving—bitcoin’s price had increased by 539%, showcasing its resilience even during turbulent economic times.
So there you have it, Bitcoin halvings in a nutshell. In the next (and final) edition of this series, we'll explore what happens when all the bitcoins are mined and mining rewards finish. Eek! (But don't worry, this isn’t expected to happen until 2140).
#bitcoin #halvings #history #price
We’re about two weeks out from the next Bitcoin halving, and you might be wondering, "How will it affect crypto and the bitcoins I hold?" It's a great question. Our answer: Relax — the halving won't directly impact any of your existing bitcoin holdings.
The halving simply reduces the reward that miners receive for mining blocks by 50%.
How the 2024 ‘Halving’ Could Impact Bitcoin
We did a little digging around in the numbers, and the data suggests it has taken around 406* days for prices to peak after a halving.
Mega Important Disclaimer: Past performance does not guarantee future results. While many believe halvings drive these rallies, other factors are at play and future outcomes remain uncertain.
Halving #1 - November 2012
While scientists were busy finding the Higgs-Boson particle at CERN, by November 2012 Bitcoin was beginning to find its feet in the financial jungle. With 11 million bitcoins in circulation, the first halving cut the block reward for miners from 50 BTC to 25 BTC.
Exactly one year later (November 28, 2013), bitcoin was up 7,431%.
Halving #2 - July 2016
As the Pokémon GO craze began sweeping the world, by July 2016 Bitcoin was gaining broader traction as a mainstream financial tool. The second halving of block rewards from 25 BTC to 12.5 BTC was met with increased anticipation.
After the event, prices surged again. By July 9, 2017, exactly one year after this halving, prices had increased by 279%.
Halving #3 - May 2020
Bitcoin’s third halving coincided with the global pandemic, making it a unique test for the leading cryptocurrency. With block rewards cut to 6.25 BTC, many were wondering if prices would continue the historic post-halving trend.
By May 11, 2021—exactly one year after this halving—bitcoin’s price had increased by 539%, showcasing its resilience even during turbulent economic times.
So there you have it, Bitcoin halvings in a nutshell. In the next (and final) edition of this series, we'll explore what happens when all the bitcoins are mined and mining rewards finish. Eek! (But don't worry, this isn’t expected to happen until 2140).
#bitcoin #halvings #history #price
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