How Often Does Bitcoin Halving Occur?
Bitcoin halving is a significant event in the cryptocurrency ecosystem that occurs approximately every four years or after 210,000 blocks have been mined. This process is integral to Bitcoin's design, ultimately limiting the total supply to 21 million coins. The halving reduces the block reward miners receive for validating transactions, effectively cutting it in half.
The first halving occurred in November 2012, reducing the reward from 50 to 25 bitcoins per block. The second halving took place in July 2016, bringing the reward down to 12.5 bitcoins. The third halving was in May 2020, which lowered the reward to 6.25 bitcoins. The next halving is expected to occur around 2024, when the reward will drop to 3.125 bitcoins.
The halving events are crucial for Bitcoin's economics, as they create scarcity and can influence the asset's price. Historically, each halving has been followed by significant increases in Bitcoin's value, although past performance does not guarantee future results. Furthermore, these events often bring heightened media attention and can lead to increased interest from both investors and the general public, solidifying Bitcoin's dominance over other altcoins.