Bitcoin halving is a significant event that takes place every 4 years. The essence is to cut the coin supply twice. Whenever halving occurs, the inflation rate of Bitcoin is reduced, thus, pushing up the asset’s price.
The previous halving took place in May 2020. That time the reward for receiving one block in the Bitcoin blockchain reached 6,25 BTC. On the day of halving, the BTC rate was $8,787, and it began to increase starting from April 2021. In May 2021, it showed 517% growth.
When Is The Next Bitcoin Halving?
The next Bitcoin halving is scheduled on 2024. The reward for each block successfully received will be cut twice and reach 3,125. The last time when the BTC mining rewards will be cut is 2140. Then the number of coins in circulation will reach its maximum - 21 million.
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