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Est. Time Remaining
Predicted Date
Remaining Blocks
Total Blocks
Live Bitcoin Price
Market Cap
| Time Mined | Block Height | Total Fees |
|---|---|---|
| 19 April 2024, 17:24:33 | 839953 | 0.83328821 |
| 19 April 2024, 20:52:54 | 839977 | 0.91871808 |
| 20 April 2024, 00:10:54 | 840001 | 4.48584464 |
| 20 April 2024, 04:24:43 | 840025 | 13.49073221 |
| 20 April 2024, 08:09:23 | 840000 | 14.76032511 |
The upcoming Bitcoin Halving event is estimated to take place in April 2024, approximately after calculating...
Bitcoin halving event holds a special place in the crypto industry. The event occurs every four years, after every 210,000 blocks are mined, reducing the supply of new coins circulating by half. Halving gradually reduces block rewards for miners, helping manage supply and demand to increase Bitcoin’s value.
Halving is a direct reflection of the pseudonymous creator of Bitcoin, Satoshi Nakamoto’s vision, making it a valuable digital currency with limited supply. To maintain the value of Bitcoin through scarcity, the block rewards given to miners for processing transactions on the blockchain are halved. Nakamoto implemented the process into the Bitcoin code.
The process of BTC halving will persist until all 21 million BTCs are mined. Completion is anticipated by the year 2140. To this point, BTC has experienced a total of three halving occurrences, which took place in 2012, 2016, and 2020.
The most recent Bitcoin halving occurred on 11 May 2020, reducing mining rewards by 50% from 12.5 to 6.25 new bitcoins per block. The limited availability made Bitcoin bullish as its prices increased from $6877.62 on 11 April, one month before halving, to $8821 during the event. Despite experiencing considerable fluctuations, the price continued to rise throughout the following year and reached $49504 on 11 May 2021.
A similar trend happened during the previous halvings in 2012 and 2016, with the most significant increase in value occuring after the event. The block rewards decreased by half to 12.5 BTC in 2016, and 6.25 BTC
Despite a substantial decrease in value about 12-17 months later, the price still stayed much higher than before the halving in 2020. In the year 2024, the bitcoin block rewards will decrease to 3.125 BTC.
| BTC Halving Event | Date | Block | Reward | New Bitcoins | Mined % |
|---|---|---|---|---|---|
| First Halving | 28 Nov. 2012 | 210,000 | 25 |  | 75 |
| Second Halving | 9 July, 2016 | 420,000 | 12.5 | | 87.5 |
| Third Halving | 11 May, 2020 | 630,000 | 6.25 | | 93.75 |
| Fourth Halving | 2024 | 840,000 | 3.125 | | 96.875 |
| Fifth Halving | 2028 | 1,050,000 | 1.5625 | | 98.4375 |
| Sixth Halving | 2032 | 1,260,000 | 0.78125 | | 99.21875 |
A bitcoin halving is programmed into the foundational blockchain software of the network, controlling the speed at which new bitcoins are generated. The software makes computers in the network compete in a process called ‘mining’ to verify transactions, rewarding them with new bitcoins for proving the validity of selected transactions. Transactions are confirmed in clusters known as ‘blocks’ and the system is programmed to reduce the miner’s reward by half after every 210,000 blocks.
Based on the Bitcoin price behavior in regards to the Halving event, there are 5 phases with different price chart patterns. While it is widely known that halving events bring price rally, there is more to its impact on the market price of Bitcoin. If we look at the price chart patterns of Bitcoin close enough, we can divide the impact into the following 5 phases.
The Pre-Halving Downside phase occurs before the Bitcoin halving event, during which the cryptocurrency undergoes price decreases or corrections. During this period, there is a drop in the price of Bitcoin as traders expect the approaching halving event. The start of the Pre-Halving Rally phase indicates a change in market sentiment, suggesting Bitcoin may see upward movement before the halving.
The Pre-Halving Rally phase usually takes place around 60 days prior to the Bitcoin Halving event. Bitcoin’s price experiences a sharp increase as investors look forward to the halving event. The surge in value is frequently driven by the anticipation of the event, prompting investors to join in on the enthusiasm. Short-term traders and speculators buy Bitcoin before the halving and selling soon after, employing a tactic called “Buy the Hype, Sell the News.” This action results in a Pre-Halving retracement.
After the Pre-Halving Rally ends, the Pre-Halving Retrace phase usually occurs a few weeks prior to the Halving event. In this stage, Bitcoin sees a brief decrease in price. This period of retracement may continue for weeks, causing investors to wonder if the Halving event will actually result in a price increase for Bitcoin.
Following the Pre-Halving retracement, Bitcoin moves into a stage called Re-Accumulation, marked by a prolonged period of stability or plateauing (consolidation) and horizontal movement. This period can last for as long as 150 days, which is approximately five months. Many investors might be disappointed because of the absence of substantial price changes after the Halving event. Some investors may choose to leave their positions early due to feelings of boredom, impatience, and disappointment.
The actual Bitcoin price rally after the Halving event is anticipated to start in the last phase i.e., Parabolic Uptrend. When the price consolidation period ends after several months of Halving, Bitcoin price breaks out to witness a sharp uptrend movement. This phase previously led Bitcoin to record new all-time high prices and is estimated to happen this time as well.
All the price predictions of BTC after Halving will hold true during this period with investors regaining optimism in Bitcoin investment. This leads to what we call a bull market since a price surge in BTC will have a positive impact on altcoins and other industry projects.
Bitcoin undergo halving as aresult of its software being designed by an unknown individual or group who goes by the pseudonym ‘Satoshi Nakamoto’.
Although Satoshi has not provided a clear explanation for halvings, it is believed by many that the purpose was to increase the initial distribution of coins in order to encourage more individuals to participate in the network and engage in block mining. According to this theory, block rewards were designed to decrease by half periodically since it was anticipated that the value of each rewarded coin would rise as the network grew.
Another hypothesis suggests that the halvings were implemented to incorporate deflationary tactics in the currency, with a fixed number of new coins distributed per block. Contrary to the fiat money system’s tendency to decrease currency value through central bank overprinting, the fixed supply and predetermined rate of new bitcoin creation minimize this risk.
Bitcoin halving has been criticized for promoting saving over spending, as users anticipate the coins’ price will rise. This could have sparked periods of rapid economic growth followed by sharp declines in the past, as individuals held onto coins until reaching certain levels before selling them.
Others have made a comparison between bitcoin and a pyramid (Ponzi) scheme, citing that the design of the system has unfairly benefited early users.
When the block reward is cut in half, certain users might realize that their mining operations will no longer be cost-effective because of expenses like electricity and equipment. If the price of bitcoin doesn’t increase enough, certain users might choose to completely stop mining, resulting in a decrease in processing power within the network.
Regardless of the circumstances, the rate at which blocks are generated should remain constant because the software will adjust the complexity of verifying transactions accordingly.
Once all 21 million bitcoins have been mined, users will stop earning new bitcoins for verifying blocks. Nevertheless, they will keep getting transaction fees – provided by those who are making payments – as a reward for verifying transactions.
It is estimated that the final bitcoin will be mined by the year 2140. At this stage, the cryptocurrency will turn deflationary as coins can be ‘lost’ accidentally through user mistakes, such as sending them to an incorrect address.
There are multiple ways you can trade the upcoming Bitcoin halving. You can either buy the coins on popular crypto exchange platforms or speculate on its price changes by using derivatives like CFDs.
In case you don’t want to interact with Bitcoin by directly buying and selling the coins on exchanges or wallets, CFD trading is the right option for you. Some of the best CFD brokers help you make speculative bets on the future prices of Bitcoin.
Trading derivatives such as CFDs has following advantages when compared to trading Bitcoins directly on exchanges.
The first Bitcoin halving event took place on November 28, 2012, reducing the initial block reward of 50 BTC to 25 BTC. At the time of the event, the Bitcoin price was trading at around $13.
Even though there was no substantial impact on the price right after the halving event, Bitcoin rose in value and reached the $1000 mark after 1 year, in 2013. The rising awareness of Bitcoin and gradually improving adoption are the major reasons behind this price rally, in addition to the halving event.
The second Bitcoin halving event occurred on July 9, 2016, further slashed the mining rewards by half. This time, the block reward of Bitcoin was reduced from 25 BTC to 12.5 BTC. The Bitcoin price was trading at the $700 range during the event. Similar to the previous scenario, its price increased significantly and reached a new all-time high value of $20,089 more than one year after the event.
The last Bitcoin halving or the third Bitcoin halving event took place on May 11, 2020. This time, the block reward of Bitcoin dropped from 12.5 BTC to 6.25 BTC. The Bitcoin price was around $8,000 when the third Bitcoin halving happened. It witnessed an incredible price surge in 2021 and finally reached the new all-time high value of over $68,000 in November 2021.
Bitcoin Price has historically followed an upward price movement after halving events. However, we cannot say that it is only because of the halving events. While it is true that Bitcoin halving events reduce the supply and increase the value over the long term, they cannot directly alter price trends of Bitcoin.
The price rise of Bitcoin majorly depends on the demand in market and user adoption. And, we cannot say for sure that the demand of Bitcoin will increase, considering the number of cryptocurrencies that exist in the market today. So, we cannot surely say that the upcoming Bitcoin halving will increase its price.
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There is a high possibility for Bitcoin reaching $100,000 after the upcoming Bitcoin Halving event in April 2024. Historically, the BTC price has always witnessed a price surge after each halving event. This time, the anticipation of the BTC price surge further increased with the upcoming Bitcoin spot ETF approvals.
Though the Bitcoin price has always increased after halving events, there is no reliable metric to forecast when exactly the price rise happens. Sometimes, the Bitcoin price increased several months after the halving event. You should buy Bitcoin while its price is still low to benefit in the next bull run.
For every 210,000 mined, which takes around four years, the Bitcoin block reward reduces by half. The mining difficulty gets adjusted to make sure that the Bitcoins are mined at a steady rate. In the upcoming Bitcoin halving in April 2024, the block reward reduces to 3.125 BTC and block height reaches 840,000.
You can either directly buy Bitcoin on exchange platforms and wait for its price to increase in the future. Or, you can also enter CFD trading by speculating on the future price trends of Bitcoin.
When a Bitcoin halving event takes place, it reduces the mining rewards. The major impact it will have on miners is their rewards will be reduced by 50% for successfully mining blocks. While Bitcoin halving is good for its long term price rise, miners may not appreciate it.
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