The most crucial event for the bitcoin miners, investors, traders, and institutions was the Bitcoin halving. Everyone who came into the BTC sphere asked when is the next bitcoin halving going to take place. The answer to the new learners who are joining the crypto sphere is easy. Bitcoin merged on the financial scene in 2008, with prices close to cents and mills. Having a relatively larger cushion for mining per block, the blockchain and miners could generate 50 BTCs every ten minutes. Since there was a bigger cushion and major supply threshold to cover. The prices were relatively low, and trade was made with less volatility. As time passed, Bitcoin placed its mark in the community. The process of halving is predetermined to take place every four years.
First Halving to Bitcoin’s Next Halving
As the first bitcoin started in November 2012, the price mark stood at $11. Within a few months, the trade volume grew, and the prices traveled to all-time new highs. This gave Bitcoin pomposity and fame among the trader’s community and many eyes shifted to this side. Sniffing the returns, and ultimately 100x yields, created a frenzy and interest among the traders. Many made millions and billions from their investments and savings.
As the demand surged and the new blocks were quantified to add new BTC per block. Traders and new miners made their way into the BTC space. The total supply for Bitcoin mining is 21 million. Before we decide upon what is left for mining, let us peep at how the mining and how halving have started.
The First Halving
Bitcoin every few years, roughly every four years half in terms of mining and adding to the block. Since the blockchains are interlinked, there is no doubt about why the prices are high. The answer is simple. From the start of 2008 till 2012, 50 BTCs were being mined every ten minutes. The same figure was slashed and halved to 25 BTC/ten minutes. As people were expecting, the market was circulated with questions like when does bitcoin half would come. The results were astonishing. As the prices grew in numbers and there was a surge in Bitcoin’s next bull run people got ready for the fruition. Many exchanges spurred up such as Binance, and Bitcoin.com.
The Early Days
Funds in the early days were being held in escrow and then the buying and selling for Bitcoin took place. There was not much ease in this respect, but exchanges were working tirelessly to roll out crypto buying and trading. In nascent stages, the community was prepped up and startups were promising to keep the Bitcoin trends high and fruitful.
After 2012, the next halving started resulting in mining rewards also halving. Bitcoin is built around a mechanism that halves the mining and rewards every four years. As the model is for 21 million Bitcoins. The halving happened in 2012, then in 2016 and the third halving appeared in 2020. The mining slashed from 50 BTC every 10 minutes to 25, then to 12.5 respectively. The day when the bitcoin is tagged for half is referred to as “halving” or “halvening”.
Mining indicates that there are a specific number of BTCs that are now adding up to one block. The miners would now get fewer rewards for mining each BTC. The miners are now able to add only 12.5 BTC per block as compared to 25 in 2016.
When Will Bitcoin Halve Again? Next Phase
As bitcoin halving generates scarcity and dearth in demand. The new supply of Bitcoin is lower and there is little cushion left for more coins to be generated. As supply is getting lower, the demand and price would resultantly increase. Furthermore, there is buying pressure on more institutions to stabilize in terms of continuous buying and dealing in derivatives. As a snowball result continues, among traders, the aggressive speculations and price swings make the volatility touch the brink point. Since Bitcoin has an antifragility factor attached, the reversal whether up or down always stabilized the market’s most favorite coin.
What to Expect Next? Bitcoin Halving 2024
Every four years, as the CEX merged with DEX and gave birth to the DEX and HEX, trading and interest grew. Apart from mining taking place in reputed centralized exchanges, hybrid exchange platforms appeared. Invest in crypto narratives mushroomed and still the buy the dip trends are in much circulation. And appear to have shifted people’s interest from the centralized to the decentralized world and finance as DEX. If you want to experience what to do with Bitcoin now, you can experience your online trading platforms such as Bitflex. They provide the opportunity to buy reputable coins and tokens.
So far, there are 19 million coins mined till now. That brings us to a limited supply left for mining from 2024. The next Bitcoin halving date is around April 2024, with 210,000 blocks added to the blockchain. We can expect the 840,000th milestone of blocks in the blockchain to be reachable by 2024. This would give another pump in the price and a clear indicator for the crypto winter to fade away. The year 2024 as the historical charts for the BTC indicate another bull run.
What Happens After Halving? When is the Next Bitcoin Halving
The speculations after the halving for 2024, are around that the miners would shut down and there would be less interest in Bitcoin. Whereas miners are very smart and would not hang up their mining machines. There would be another shift in the market price and more scarcity would be visible in the coming time. The inflation rate would drop to 1.1% for BTC. We would soon see a reversal, promising and returnable. As digital assets are going to travel upwards from the murky bear market of today.
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