About Bitcoin halving
Bitcoin was designed as a deflationary currency.
Historically, the halving has had a great impact on the price of BTC, here we are going to show several graphs that show how the price has evolved and the bullish and bearish cycles that this event has caused.
Bitcoin's computer code is programmed for a miner to write a block containing transactions approximately every 10 minutes on the blockchain and is rewarded with BTC for performing this action. Every 210,000 blocks this amount is halved and this event is called halving and is scheduled to occur until approximately the year 2140. The next event that will occur in the year 2024 and will decrease the reward to the miners for the extraction of the block to 3,125 bitcoin.
It is the network that is in charge of controlling the issuance of Bitcoins, derived by consensus of all Bitcoin participants. 21000000 bitcoins will be produced 10 minute block interval goal Halving event occurs every 210000 blocks, about 4 years. Any changes to these rules would require the Bitcoin full node implementers to agree to approve the change.
Past dates of halving events:
The first halving event occurred on 28 November 2012 (UTC) at block 210000.
The second halving event occurred on 9 July 2016 (UTC) at block 420000.
The third halving event occurred on May 11, 2020 (UTC) at block 630000.