Halving Bitcoin: 11 Years and Still the Same Impact!

November 28, 2023 marks the 11th anniversary of the first Bitcoin halving. This event took place on November 28, 2012, after the mining of 210,000 blocks. It reduced the miners’ rewards to 25 BTC per block. What does this event mean for crypto investors? Answers.

Aujourd'hui, c'est l'anniversaire du premier halving de Bitcoin ! Dans le bloc 210 000, 25 BTC sont minés au titre de la subvention au lieu de 50 BTC dans le bloc précédent.https://t.co/wtsb5JafBm

— Loïc Morel (@Loic_Pandul) November 28, 2023

A Look Back at the First Two Bitcoin Halvings

The halving is an important event for BTC investors. It reduces the amount of newly issued Bitcoin, thus impacting the cryptocurrency’s price.

• The first Bitcoin halving took place on November 28, 2012, after the mining of 210,000 blocks. The miners’ rewards dropped to 25 BTC per block.
• The second Bitcoin halving occurred on July 9, 2016, after the mining of 420,000 blocks. Miners then received 12.5 BTC split among them.

In both instances, the price of BTC significantly increased following each event.

• The first halving was followed by an increase in the price of BTC from 12 dollars to $1,217 in exactly one year.
• After the second halving, the cryptocurrency’s price rose from $650 to $2,500 within a year.

The Impact of Halving on the BTC Price

The halving increases the value of Bitcoin. Essentially, the reduction in supply creates a scarcity effect, thus driving the price up if the demand for BTC remains the same or increases.

The Bitcoin halving also helps to control inflation and to limit the total quantity of BTC in circulation to 21 million units.

The next Bitcoin halving is expected to take place in April 2024. The exact date is difficult to predict, as it depends on the block height. For your information, this event occurs every 210,000 blocks. Therefore, the next event is expected to happen when the block height reaches 840,000.

The Bitcoin halving is a critical event that influences the price of the cryptocurrency. With the next halving scheduled for April, investors are closely watching the evolution of the crypto with anticipation and foresight.