Bitcoin is a virtual coin introduced by Satoshi Nakamoto in 2008, but it came into circulation in 2009. Bitcoin Halving is a predetermined event that occurs once in four years to increase the value of Bitcoin. It reduces the block reward by 50% from the original block reward for every 210,000 blocks.
History of Bitcoin After Halving
There are 32 Bitcoin Halvings in total, according to Satoshi’s formula. As per now, we are just done with three halvings. Twenty-nine additional halvings are yet to come.
|Year||Date||Block Reward||Mined Block Reward|
|2009||3rd January||Introduced BTC||50|
For every 210,000 blocks, halving occurs as an event periodically for every four years. Bitcoin halving is estimated to happen until 2140 when bitcoins are mined 100% as it reaches 21 million bitcoins.
Price Of Bitcoin After Halving
Every Halving has a more significant impact on the price of bitcoin. According to Satoshi, bitcoin should be scarce and valued at the highest price. Thus, bitcoin’s price is unpredictable, just like gold.
After the very first halving in the year 2012, the bitcoin price was increased from $11 to $1,00 by the end of the year. In the year 2016, after the second halving, the bitcoin price was increased from $500 to $800 By the end of 2017, the price of bitcoin was $20,000. After the third halving, which occurred very recently, the present value of bitcoin is $9,505. It is estimated to increase by the end of the year.
Investors worldwide are excited about this event, and they expect bitcoin price to increase after Halving. Bitcoin is the most popular cryptocurrency accepted in the gaming industry by bitcoin casinos from their players.