An extremely important event in the world of cryptocurrency is going to take place next year. The exact date of this is something every crypto investors are looking forward to, but also anxious about. The event is called Bitcoin Halving.
What exactly is Bitcoin (BTC) Halving?
Bitcoin miners get rewarded by based on the number of blocks they can generate on the Bitcoin network. In just a few months, the number of blocks that can be generated will be cut off in half.
The event will essentially reduced the amount of BTC entering into circulation in a daily basis in half. Miners will see the total number of bitcoin that can be minted reduced from 12.5 to a merely 6.25 blocks following the next bitcoin halving.
When is the next Bitcoin halving, important dates?
The next BTC halving is automatically and officially happening when block #630,000 is mined or minted. That time is estimated to be between May 13 to 24, 2020.
What will the 2020 Bitcoin halving means to BTC’s price?
Like any crypto coins, one of the factors in determining the price of single Bitcoin is the number of BTC that enters into circulation. In order words, the number of Bitcoin minted and released by miners daily affect its trading price.
The majority of crytpo traders and enthusiasts strongly believed halving will greatly a positive impact Bitcoin’s price leading to and after the block rewards get cut in half. History is on our side.
When was the last BTC halving and what impact did it have on BTC’s price?
The last Bitcoin halving happened on July 9, 2016 at block #420,000. Miners reward per block dropped from 25 to 12.5 BTC. By July of that year, Bitcoin price volatility had reduced by 27%. The 2016 halving doubled the price of Bitcoin $400 to than $800.
Why is the next BTC halving (2020) important?
The next BTC halving is important for both BTC trader and miners. For traders, they can expect extreme volatility before and after. As for miners, mining rewards will cut off in half; lowing their earning.
How are you preparing for the imminent 2020 Bitcoin Halving?
Mathieu is a Information technology professional with over 15 years of experience. He started one of the first bitcoin blogs existed in 2010. He started writing about, investing in bitcoin and promoting the first cryptocurrency when only a few technological savvy people knew about it. Mathieu is a world traveler who enjoys culture, technology, finance, salmon, rice and beans. He’s cool, collected and knows a great deal about blockchain technology.
