What happened during the last Bitcoin Halving?
Bitcoin rewards last fell on 9 July 2016 at the point of the second halving – an event which saw the block reward fall from 25 new bitcoin per block to 12.5 bitcoin. Bitcoin’s price surged from $576 on 9 June 2016 (a month before the halving) to $650 at the time of the event itself. Despite significant volatility, prices continued to rise over the course of the next year to reach $2526 on 9 July 2017.
A similar pattern emerged surrounding the first halving on 28 November 2012 when the bitcoin block reward dropped from 50 to 25 new bitcoins. Prices increased from $11 a month before the halving to $12 on the day of the event itself, continuing to rise over the course of the next year to reach $1038 on 28 November 2013.
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