What is a Bitcoin Block Halving Event?
Understanding Bitcoin Halving
Block halving events are pivotal occurrences in the Bitcoin blockchain that take place approximately every four years or every 210,000 blocks mined. During these events, the block reward given to miners for verifying and adding new blocks to the blockchain is halved. This has a significant impact on the supply and demand dynamics of Bitcoin, as well as its price.
Upcoming Bitcoin Halving Event
The next Bitcoin halving event is predicted to occur on April 20, 2024, at 12:57 PM CDT. You can use our Bitcoin halving countdown to track the estimated date for 2024.
Once the halving occurs, the block reward for miners will be reduced from 6.25 BTC to 3.125 BTC. This halving schedule is pre-determined in the Bitcoin protocol and is designed to reduce the issuance rate of new Bitcoins over time.
Block halving events have historically had a significant impact on the price of Bitcoin. As the supply of new Bitcoins is reduced, demand for the existing supply can increase, potentially driving up the price.
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