Bitcoin halving dates are one of the most important days in the cryptocurrency ecosystem — typically leading to increased attention from the mainstream press and higher prices for BTC and other digital assets!
In this guide, we’ll break down everything you need to know about Bitcoin halving dates — including data about BTC’s performance after past halvings!
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What is Bitcoin halving?
Bitcoin halving is a pre-programmed event that occurs approximately every four years, where the reward for Bitcoin mining is cut in half. Because of the reduction in the supply of new Bitcoin, halvings typically result in an increase in the price of BTC.
What is the next Bitcoin halving date?
The next Bitcoin halving is scheduled to take place in April 2024. Bitcoin rewards will be cut from 6.25 to 3.125.
Bitcoin halving chart
Here’s a look at how Bitcoin’s price has changed in recent years, including before and after each halving date.
.jpg "Bitcoin Halving Dates: Investor’s Guide 2024 | CoinLedger (1)")
How does Bitcoin halving work?
Bitcoin relies on Proof of Work (PoW) to validate transactions. In return for using electricity and computation to solve complex math problems, Bitcoin miners receive a portion of newly-created BTC.
Bitcoin’s underlying software halves rewards for miners every 210,000 blocks — or approximately every four years — which ensures that the total supply of Bitcoin will never surpass 21 million units.
After each halving event, some miners may be forced to shut down their operations, and the hashrate (computing power) of the Bitcoin network may decrease temporarily. However, reduced supply typically leads to higher prices.
Fun Fact: 98% of all Bitcoins ever created will be mined by 2032.
How does the Bitcoin halving impact the wider cryptocurrency market?
In the past, Bitcoin halvings have led to rallies in the wider cryptocurrency market. It’s possible that halvings lead to increased attention on the crypto ecosystem — which in turn leads to higher demand and higher prices for all digital assets.
When was the last Bitcoin halving date?
The last Bitcoin halving took place on May 11, 2020. The reward for mining a block of Bitcoin fell from 12.5 to 6.25.
After this Bitcoin halving, the cryptocurrency market went on a bull run, with the price of Bitcoin increasing by 5x in the next calendar year (though it’s likely that this can be attributed to multiple factors, including global economic conditions in the wake of the COVID-19 pandemic).
What will happen after Bitcoin halving in 2024?
Bitcoin halvings reduce the total available supply of BTC. As a result, they’ve typically led to an increase in the price of Bitcoin.
While there was a significant surge in the price of Bitcoin and other cryptocurrencies after each halving date, it’s important to remember that there are a multitude of factors that determine the price of cryptocurrency — such as global economic factors and regulatory conditions.
For more information, check out our guide on how cryptocurrencies gain value.
What is the significance of the Bitcoin halving?
Remember, Bitcoin is designed to be an alternative to fiat currencies like the US dollar with high levels of inflation. The Bitcoin halving is a necessary event to control the supply of BTC.
Controlled scarcity
Bitcoin halving reduces the block reward given to miners, effectively lowering the rate at which new bitcoins are created. This mechanism is intended to mimic the scarcity of resources like gold.
Increase in value
The halving events decrease the supply of new BTC entering the market. This reduction in new BTC is expected to drive up price, following the basic principles of supply and demand.
Alternative to fiat currencies
Halving events help differentiate Bitcoin from fiat currencies like the US dollar — where supply increases and purchasing power diminishes over time.
Fun Fact: $100 in 2024 has the same value as $80 in 2018 — highlighting how inflation has reduced the average American’s spending power! Meanwhile, the price of Bitcoin has risen from $20,000 to $70,000 in the same time period!
Bitcoin halving dates history
Since Bitcoin’s creation, there have been three halving dates:.
2012 Bitcoin Halving
- Bitcoin reward per block (previous): 50 BTC
- Bitcoin reward per block (new): 25
- Price on halving day: $12.35
- Price 150 days later: $127.00
2016 Bitcoin Halving
- Bitcoin reward per block (previous): 25 BTC
- Bitcoin reward per block (new): 12.5 BTC
- Price on halving day: $650.53
- Price 150 days later: $758.81
2020 Bitcoin Halving
- Bitcoin reward per block (previous): 12.5 BTC
- Bitcoin reward per block (new): 6.25 BTC
- Price on halving day: $8,821.42
- Price 150 days later: $10,943.00
.jpg "Bitcoin Halving Dates: Investor’s Guide 2024 | CoinLedger (2)")
Frequently asked questions
How many Bitcoin halvings left?
Does Bitcoin price go up after halving?
Is Bitcoin halving every 4 years?
What date is the next Bitcoin halving?
Is Bitcoin halving good or bad?
