Topic: Bitcoin Halving Time is Coming (Read 170 times)

In today's world of cryptocurrency, Bitcoin Halving is a hot topic. Because the next Bitcoin Halving is very close. So newcomers may have a question,
What is Bitcoin Halving?
So let's take a look at what Bitcoin Halving is.

What does Bitcoin Halving mean?

Bitcoin Halving is a system that occurs every 210,000 blocks. Which usually occurs every 4 years. And when this is Halving, the mining reward is reduced by 50%.

When a block is created or mined in the Bitcoin network, its reward miners are paid by Bitcoin. At present, when a successful block is created, miners are given 12.5 bitcoin rewards. Which will continue till some time in the month of May 6, 2020.

The third bitcoin hacking of Bitcoin will take place in the middle of next May. Minor Bitcoin Rewards will decrease from 12.5 to 6.25 (50% less) after the third Bitcoin Halving.

What Happens When Bitcoin Halving?

Halving occurs automatically after 210,000 blocks have been mined. Which has happened twice before. Looking at the price chart during the previous Halving, it is clear that Halving has had a fairly good effect on the price movement. In other words, the Bitcoin price has always increased due to Halving.

Bitcoin price history shows that the year after Halving took place, there was a big movement in the Bitcoin price. For example, after the first halving in 2012, the price of Bitcoin touched 1000$ (USD). After the second Halving 2016, the Bitcoin price crossed 20,000$ (USD) in December of the following year.

So will Bitcoin maintain its previous price history after the 2020 Halving? The answer can be easily understood by looking at the opinions of big investors and advisors. For this you can google small.

How much Bitcoin Halving is left?

As we know, Bitcoin Halving happens every 210,000 blocks. And the total bitcoin supply is 21,000,000 (21 million).

Considering the total supply and block generation of Bitcoin, it can be assumed that this halving may occur by the year 2140. That means 21 million bitcoin mining will be completed by 2140. As a result, there will be no bitcoin left for mining.

Hope you got a preliminary idea of ​​what Bitcoin Halving is.