Bitcoin Halving (In Just 5 Minutes)

Bitcoin Halving
Bitcoin was first introduced by Satoshi Nakamoto in the year 2008, which is powered by blockchain technology as it is the most advanced technology dealing with cryptos.

Generally, in the bitcoin community, user transactions are grouped into blocks and are recorded into the digital public ledger called a blockchain. Minors play a very important role in this task, and they receive a block reward as a bitcoin for each and every block recorded.

Halving History

In the year 2008, after the introduction of bitcoins, for every four years they are decreased to 50% ie., half. This is called Bitcoin Halving. It is halved for every 210,000 blocks. At the time of bitcoin creation, the initial block reward was 50 bitcoins.

In 2012, the first halving took place with the block reward of 50 bitcoins and it was decreased by 50% ie.,50 bitcoins to 25 bitcoins. In 2016, the second halving took place with the block reward of 25 bitcoins and it was decreased by 50% ie., 25 bitcoins to 12.5 bitcoins.

Now, it's time for the third halving which is estimated to take place in the month of May 2020. During this halving, the block reward will be decreased by 50% ie., 12.5 bitcoins into 6.25 bitcoins.

People are curiously waiting for this event to take place, as it has a greater impact on the price of the bitcoin.

Bitcoin Price After Halving

Bitcoin price is the most unpredictable aspect, as many former professionals have failed to predict the appropriate price of it. Many people are scared to enter the bitcoin network due to the wavering nature of it.

There are 32 bitcoin halvings in total, we are just done with just two halvings and more 30 halvings are yet to happen. As each halving is done in the frequency of four years it may end up in the year 2140 ie., more 120 years to go.

As per bitcoin formula, it is observed that bitcoin halving has a greater impact on the price of the bitcoin.
Year
Initial Price
End Of The Year Price
2012
$11
$1100
2016
$500
$800
By the end of 2017, the price was $20,000.

After the maximum production of bitcoin is only 21 million, the users will not get any new bitcoins after the maximum count is reached.

Our team from Winbtc.net has come up with the most trending topic and developed an innovative infographic on Bitcoin Halving.
Bitcoin Halving
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