Bitcoin has paved the way for cryptocurrency and has had many factors contributing to its success over the years. The main reason for Bitcoin’s world domination is its use of blockchain technology in providing a decentralized payment system, revolutionising the financial landscape with fast transactions and a secure, public ledger. Another thing that makes Bitcoin so sought after is its deflationary standard, which is reinforced by its halving.
What Is A Bitcoin Halving?
A Bitcoin halving is when mining rewards are halved, which happens after every 210,000 Bitcoin blocks have been added to the blockchain. By reducing the rewards of mining Bitcoin, the supply of new Bitcoin into the market reduces, allowing prices to potentially rise due to steady or increased demand in an asset with decreasing supply.
As history has proven, around the time of these halvings the price and buying demand for Bitcoin increases. According to the data, the last Bitcoin will be mined in 2140, with the mining rewards continuing to decrease until then. Considering Bitcoin only started being mined in 2009, we have already reached a total of 19 million Bitcoins mined, leaving only 2 million to still be mined over the next 118 years.
Bitcoin Halving Dates To Mark In Your Calendar
For the purpose of this article, we will also include past halving dates alongside the Bitcoin halving dates for the future. While dates might vary depending on how busy the network is, these years are mostly certain.
28 November 2012 (Past)
BTC Reward: 50
9 July 2016 (Past)
BTC Reward: 25
11 May 2020 (Past)
BTC Reward: 12.5
BTC Reward: 6.25
BTC Reward: 3.125
BTC Reward: 1.5625
BTC Reward: 0.78125
BTC Reward: 0.390625
BTC Reward: 0.1953125
There are obviously a lot more Bitcoin halving dates to come but these are the ones to look out for over the next 22 years. While the halving happens after every 210,000th block is mined, it usually occurs at four year intervals, which makes it much easier to track.
We could not add exact dates for the upcoming Bitcoin halving dates because this depends on how busy the network is more than anything, but these are the general years they can be expected.
How To Prepare For A Halving Now
It doesn’t matter if you are a miner, a trader, or a holder, these are important dates to keep in mind as they affect the supply of Bitcoin and, historically, the price. These Bitcoin halving dates are a clear indication that it’s time to start growing your Bitcoin holdings, storing them in your wallet, and waiting for the price increase.
Don’t be discouraged by the halving of the rewards, but pay attention to the excess buying when the community realizes the limited supply of Bitcoin is becoming even more limited.
Bitcoin is not the only currency that makes use of halving mechanisms, there are lots of other cryptocurrencies that use the halving technique to fight inflation and slowly manage the supply of the currency into the markets.
Litecoin, Bitcoin Cash, ZCash, Verge, and Vertcoin are among some of the more popular cryptocurrencies that also have halving dates. Stay tuned to learn more about these cryptocurrencies and their upcoming halving dates with Oobit.
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