Today Bitcoin, the largest cryptocurrency by volume, is experiencing an important development; the halving event, in which miners’ rewards will be halved, will take place in Bitcoin, the largest cryptocurrency by volume. As with similar events in the past, cryptocurrency investors have high expectations from this halving.
When Will Bitcoin Halving Happen?
This once-every-four-years event on the Bitcoin network will take place today at 02:15. According to Binance’s counter this halving occurs every 210,000 blocks and cuts miners’ rewards from Bitcoin production in half. This marks the beginning of a new era for Bitcoin.
Impacts of Past Halving Events
Halving events in 2012, 2016 and 2020 led to significant increases in the Bitcoin market. For example, after the first halving in 2012, the price of Bitcoin rose from $12 to $130. The halving in 2016 raised the price from $660 to $900. In 2020, the last halving event, the price of Bitcoin went from $8,600 to $15,700 in six months, and then rose to $69, 000, triggering a serious bull market.
But these past events do not always guarantee the same results. The value of Bitcoin and other cryptocurrencies can be affected by technical factors such as halving, as well as global economic and political events. External factors such as the tension between Israel and Iran, especially in the Middle East, may cause depreciation in crypto markets.
Investors are advised not to pin their hopes solely on the halving event and to be careful about risk management. When making investment decisions, it is important not to invest amounts that cannot be lost.
*This content should not be considered as investment advice.
