So in case you're very new to bitcoin and just entering the crytpo space and have no idea what this means the Bitcoin halving is when the reward for Bitcoin mining is cut in half. Halving takes place every four years and the next one is coming up in March 2024. The halving policy was written into Bitcoin's mining algorithm to counteract inflation by maintaining scarcity and occurs every 210,000 blocks mined.
Over the past halvings the chart below shows whats happened to the bitcoin price. The next halving is March 2024 and if the chart follows its historic path then 2025 could be a gobsmackingly fantastic year for Bitcoin. So while we're currently at the mercy of the bears, halving time is when the bulls feed and are let out to run free. Ride this quiet time out, the halving is when all the action happens.
A 101 of the bitcoin halving.
- A Bitcoin halving event occurs when the reward for mining Bitcoin transactions is cut in half.
- Halvings reduce the rate at which new coins are created and thus lower the available amount of new supply, even as demand increases.
- Previous halvings have correlated with intense boom and bust cycles that have ended with higher prices than before the event.
- Bitcoin last halved on May 11, 2020, resulting in a block reward of 6.25 BTC.
- The final halving will be in 2140 when the number of bitcoins in existence will reach the maximum supply of 21 million.
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