Bitcoin halving is coming in 100 days we can start the countdown!
The most anticipated event in the crypto industry!
What is this halving and what does it mean?
Bitcoin is deflationary digital currency that means number of Bitcoin produced decreases over time and it will stop when supply reaches 21 mln.
The reward for mining is reduced by half every 210 000 blocks, so every 4 years on average.
After the next halving, the pay for miners will drop from 12.5 BTC to 6.25 BTC per block.
Currently, 1800 bitcoins are generated each day, and the mining time is 10 minutes. In 100 days this number will be reduced by half.
In 2009, the beginning of the network, the award was 50 Bitcoins per block.
Two halvings have already taken place in BTC history:
▪ November 28, 2012. The BTC price was USD 12.31,
▪ and July 9, 2016, when the price reached USD 650.63.
No one knows what will happen this time. But looking at the price level of Bitcoin in the past: before, after and during halving we can notice a big price jumps.
Here is list of all halvings in past and future:
Looking at the course level of Bitcoin in the past: before halving, during and after we can see a significant price jump, not on the day of halving, but in the long run. Will it be similar this time?
I am very excited to see what will happen.
Share your thoughts in comments section below.