What is BTC halving?

According to the BTC protocol, BTC’s total supply is 21 million, and the amount of BTC generated per block with rewards is set to decrease geometrically, with a 50% reduction every 210,000 blocks. The average BTC block generation interval is 10 minutes, so that BTC halving occurs every 4 years. The upcoming halving will occur when its block height reaches 840,000.

Why are halvings significant?

A controllable monetary inflation rate is one of the main differences between cryptocurrencies and traditional fiat currencies. If block halving applies to a cryptocurrency, its future supply is predictable. However, a traditional fiat currency has an infinite supply by nature. That is why the price of the cryptocurrency will rise due to its scarcity since halving limits its supply in the future.

History of BTC halving

Halving could send BTC’s price much higher than in the past. As of today, two BTC halvings have occurred on November 28, 2012 (BTC price: USD12.3) and July 9, 2016 (BTC price: USD650.6). The price of BTC soared 5,289% between the first and the second halving. The fourth halving of BTC is coming soon.

HalvingEst. DateBlock HeightBlock Reward (BTC)
0N/A050
111/28/2012210,00025
207/09/2016420,00012.5
32020630,0006.25
42024840,0003.125
520281,050,0001.5625
btc-iconBitcoin Price2 months
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Detailed datasheet

  • Total BTC in circulation
    18,941,675
  • Total BTC to ever be produced
    21,000,000
  • Percentage of BTC mined
    90.20%
  • BTC market cap (USD)
    700,739,689,955
  • BTC generated each day
    975
  • Approximate block time(Nearly a week)
    9.56 Minutes