Bitcoin Halving 2024
The anticipation for the next Bitcoin Halving is palpable. Scheduled around April 2024, this event will see the block rewards for miners decrease to 3.125 Bitcoin. As of the end of 2021, Bitcoin’s price stood at approximately $55,000. However, global inflation concerns and international conflicts in 2022 led to economic downturns, causing the Bitcoin price to plummet to below $16,000. However, some investors anticipate another bull market in 2024 and 2025. The halving process is seen by many as an opportunity to profit, with the Buy-and-Hold strategy being the simplest approach.
An Overview on Future Bitcoin Halvings
|Estimated year ||Block rewards after Halving |
|4. Bitcoin Halving ||2024 ||3.125 |
|5. Bitcoin Halving ||2028 ||1.5625 |
|6. Bitcoin Halving ||2032 ||0.78125 |
|7. Bitcoin Halving ||2036 ||0.390625 |
|8. Bitcoin Halving ||2040 ||0.1953125 |
|9. Bitcoin Halving ||2044 ||0.09765625 |
|10. Bitcoin Halving ||2048 ||0.04882812|
Bitcoin Halving 2012: The First Halving!
The inaugural Bitcoin Halving took place on November 28, 2012. The rewards for miners were halved from 50 to 25 Bitcoin. At the time, the BTC price was $12.35. 150 days later, the price surged to $127. By December 2013, Bitcoin reached a peak of $1,038.
Bitcoin Halving 2016
The second halving occurred on July 9, 2016. The BTC price started at around $650. Within a year and a half, it skyrocketed to $19,700. However, the following year saw a decline to approximately $3,200. Despite the rapid price fluctuations, the price remained almost 400% higher than before the 2016 halving.
Bitcoin Halving 2020: The last Halving!
The most recent halving was on May 11, 2020. Leading up to this event, there were high expectations based on previous halvings. While the price did not immediately surge post-halving, the long-term trend remained consistent with previous halvings. By the end of 2021, BTC reached a record high of around $69,000.
Bitcoin Halving 2028: $1 Million in Sight?
The value of Bitcoin is influenced by various factors, including its scarcity, demand, adoption rate, regulatory environment, and macroeconomic factors. Predicting its future price involves considering these and other variables. According to the Stock-to-Flow (S2F) model, Bitcoin is projected to reach $1 million in the coming years. Looking ahead, the 5th Bitcoin Halving is expected in 2028, with the block reward reducing to 1.5625 BTC. With each halving, the rewards and economic incentives for miners decrease, potentially leading to a less secure network. However, historical evidence indicates that halving events do not trigger this response.