What is Bitcoin Halving?
Bitcoin Halving happens once 210,000 blocks are mined, which takes around four years. By the occurrence of Halving, the mining reward for the miners will be reduced by 50%. Halving could help avoid inflation by ensuring the supply is limited. With the lower numbers of Bitcoin being created, the demand will increase. Thus, a higher price of Bitcoin.
The previous Bitcoin Halving
At the very beginning, the first reward for each mined block was 50 Bitcoins. That is how the reward has decreased every four years:
We can see that the reward will be reduced to 3.125 Bitcoins in the next event.
Next Bitcoin Halving
As specified by CoinMarketCap, the upcoming halving will happen approximately on the week of 15 April 2024. The last halving is predicted to happen in 2140. By that time, 21 million Bitcoin supplies are expected.
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