338
Days
:
18
Hours
:
49
Minutes
:
29
Seconds
Current block height
792,449
Blocks until halving
47,551
BTC Price
$26859.1
FAQ
What is BTC halving?
Bitcoin halving is an event where the number of generated Bitcoin rewards per block decreases by 50%, or halves. The next bitcoin halving is expected in May 2020. At that time, the amount of BTC mined per block will decrease from 12.5 to 6.25. What are the possible effects of a Bitcoin halving?
- For a trader, halving can bring BTC price changes.
- For a miner, halving means a 50% lower mining reward.
How does Bitcoin block halving work?
Halving is an important part of the Bitcoin protocol. It has been coded into the blockchain from the very beginning.
BTC halving is planned to occur once every 210,000 blocks, or roughly every four years until the system produces the final 21 millionth Bitcoin and the block rewards for miners reach 0 BTC.
Why is halving important?
Bitcoin halving is important because it reduces the number of Bitcoins generated by the network. This means that producing new coins will become more difficult; hence, fewer new coins will be supplied.
Halving ensures that coins are produced at a steady pace. Since cryptocurrencies have a finite supply, this is a way to control inflation.
How many Bitcoin halvings have there been so far?
The previous bitcoin halving dates were November 28, 2012, and July 9, 2016. There have only been two Bitcoin halvings so far.
There will only ever be 32 bitcoin halving events in total. Once all of these have happened, no more Bitcoin will be created, as the maximum supply will have been reached.
Will halving affect the BTC price?
Theoretically, BTC halving might lead to Bitcoin price growth, since less Bitcoins are produced as we move closer to the total supply of 21 million. However, since the Bitcoin halving schedule is known years in advance by miners and investors, it’s unclear whether the BTC price will actually rise.
Let’s look at the previous halving events:
- 2012 halving — The BTC price was around $11. A year later, it reached $1,100.
- 2016 halving — Bitcoin was trading between $500 and $800. As 2016 came to an end, the BTC price broke the $800 level and ended at the $20,000 mark in December 2017.
The situation at each halving is different, and the demand for and price of Bitcoin can differ a lot. Thus, it's hard to predict the BTC price during the Bitcoin halving 2020.