After every 210,000 blocks mined, or roughly every four years, the block reward given to Bitcoin miners for processing transactions is cut in half.
In the past, these Bitcoin halvings have correlated with massive surges in bitcoin’s price. The first halving, which occurred on Nov. 28, 2012, caused an increase from $12 to $1,207 by Nov. 28, 2013.
The second Bitcoin halving occurred on July 9, 2016. The price at that halving was $647, and by Dec. 17, 2017, a bitcoin’s price had soared to $19,377(depending on the exchange). The price then fell over the course of a year from that peak to $3,122 on Dec. 17, 2018–83.7% correction.
The next (third halving) was scheduled for May20. Between the Dec18 low and the scheduled halving, the
BTC
price rose to $13,900 (340%), followed by a lengthy correction, that eventually was resolved by the “Covid low” in Mar20 — a dramatic V shape correction seen across all markets (or what we call a black swan event). That event occurred 2 months before the halving (“coincidently”). From that point onward the price headed toward the skies, resulting in a mind-boggling 1600% rise within a year.
In the past, these Bitcoin halvings have correlated with massive surges in bitcoin’s price. The first halving, which occurred on Nov. 28, 2012, caused an increase from $12 to $1,207 by Nov. 28, 2013.
The second Bitcoin halving occurred on July 9, 2016. The price at that halving was $647, and by Dec. 17, 2017, a bitcoin’s price had soared to $19,377(depending on the exchange). The price then fell over the course of a year from that peak to $3,122 on Dec. 17, 2018–83.7% correction.
The next (third halving) was scheduled for May20. Between the Dec18 low and the scheduled halving, the
BTC
price rose to $13,900 (340%), followed by a lengthy correction, that eventually was resolved by the “Covid low” in Mar20 — a dramatic V shape correction seen across all markets (or what we call a black swan event). That event occurred 2 months before the halving (“coincidently”). From that point onward the price headed toward the skies, resulting in a mind-boggling 1600% rise within a year.