Featured image from 99Bitcoins, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"
The Bitcoin Halving is fast approaching, with less than 2,900 blocks left before miners\u2019 rewards are cut in half. This event, projected to take place sometime in April, is significant as Bitcoin\u2019s price could enjoy a parabolic move to the upside after it takes place.\u00a0 Bitcoin Halving Set For April 19 Data from Coinwarz shows that the Bitcoin Halving is set to take place on April 19 at Block 840,000. This projection is based on Bitcoin\u2019s current block time average, which means the Halving can come a little earlier or sometime after April 19. However, the main focus remains that miners\u2019 supply will be cut in half.\u00a0 Related Reading: Dogecoin Price Breaks New 3-Year High \u2013 Here Are Factors That Could Drive The Price To $1 The Halving event is a deflationary measure that Bitcoin\u2019s founder, Satoshi Nakamoto, encoded in the flagship crypto and takes place after every 210,000 blocks. Three halving events have occurred since the Genesis block in 2009, when Bitcoin\u2019s first block was mined. The first was on November 28, 2012, when miners\u2019 rewards were cut from 50 BTC to 25 BTC. The next Halving event took place on July 9, 2016, cutting miners\u2019 rewards to 12.5 BTC. The third one happened on May 11, 2020, reducing the reward to 6.25 BTC. Now, Miners\u2019 rewards are set to be cut in half again, reducing them to 3.125 BTC. This reward is the amount of BTC miners receive for validating each block of new transactions on the blockchain. Although this event mainly affects miners, the crypto community closely monitors it due to the ripple effects it could have on the market. Bitcoin\u2019s supply comes through these miners\u2019 rewards, and a reduction in them usually drives Bitcoin\u2019s value higher.\u00a0 Bitcoin\u2019s Performance After Each Halving The Halving has historically always led to a price appreciation for Bitcoin. Ninety days after the first Halving on November 28, 2012, Bitcoin\u2019s price increased to $1,000 from $12 at the time of Halving. Subsequently, Bitcoin\u2019s price saw a gain of over 8,000% one year after that Halving.\u00a0 Source: MilkRoad This parabolic price surge also occurred after the second and third Halving events, with Bitcoin\u2019s price rising from $650 and $8,821 (at the time of the Halving) to $2,506 and $56,612 (90 days after the Halving) in 2016 and 2020 respectively. Bitcoin also gained 284% and 559% one year after the event.\u00a0 Related Reading: Panel Of Experts Reveal When The Cardano Price Will Reach $3 This time isn\u2019t expected to be different as Bitcoin is again predicted to experience a massive move to the upside after April. This bullish sentiment is further strengthened by Bitcoin\u2019s demand, which has continued to skyrocket in the face of a dwindling supply.\u00a0 At the time of writing, Bitcoin is trading at around $70,400, up in the last 24 hours according to data from CoinMarketCap.\u00a0 BTC price struggles ahead of halving | Source: BTCUSD on Tradingview.com Featured image from 99Bitcoins, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":600781,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,8856,656,679,1119,89642,89185,1122,1144,78790],"class_list":["post-600761","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-halving","tag-bitcoin-news","tag-bitcoin-price","tag-btc","tag-btc-halving","tag-btc-news","tag-btc-price","tag-btcusd","tag-btcusdt"],"acf":[],"yoast_head":"\n
Bitcoin Halving Inches Closer With Less Than 2,900 Blocks Left<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n \n\t \n\t \n\t \n