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Next Bitcoin Halving: April 17th, 2028 History and What to Know!

Every four years, the Bitcoin network experiences an event known as the “Halving.” The fifth Bitcoin halving is set to happen on April 17th, 2028. But, WTH is a Halving, and why does it matter…

Next Bitcoin Halving Date

Countdown to Bitcoin halving

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What is the 'Bitcoin Halving'?

The Bitcoin halving is a pre-programmed event that occurs approximately every four years or after the mining of every 210,000 blocks. During a halving, the reward for mining a new block of Bitcoin is cut in half.

When is the Next Bitcoin Halving?

The next Bitcoin halving is estimated to take place on April 19th, 2028.

Bitcoin miners that successfully validate transactions are currently awarded 3.125 new Bitcoin for each mined block. This date is based on current estimates that change with every new block.

What is the Significance of the Bitcoin Halving?

Miners receive 50% less Bitcoin as a reward for their work.

The halving of the block reward is a key feature of Bitcoin’s monetary policy, implemented to control the inflation rate, ensure the cryptocurrency’s scarcity, and increase its value over time.

  • Each Bitcoin halving event reduces the number of new Bitcoins produced per block.

  • Resulting in a lower supply.

  • Bitcoin was created as a deflationary currency similar to gold.

  • As it becomes scarcer and demand increases, the price likely increases in line with supply and demand economics.

The Bitcoin halving will ultimately cap the total supply of Bitcoin at 21 million coins. Each Bitcoin has 100,000,000 satoshis in it.

This fixed supply is one of the fundamental characteristics differentiating Bitcoin from traditional fiat currencies, which can face inflationary pressures due to central bank policies.

These scarcity-driven price dynamics have historically played a role in Bitcoin’s price appreciation after each halving event. It will be interesting to see how future halving events will impact Bitcoin’s price.

USD vs BTC Purchasing Power

Bitcoin Halving Dates History

Here’s a history of all the past Bitcoin halving dates since inception:

  • 1st Bitcoin halving date — November 28, 2012 — Reward down: 50 BTC to 25 BTC

  • 2nd Bitcoin halving date — July 9, 2016 — Reward down:  25 BTC to 12.5 BTC

  • 3rd Bitcoin halving date — May 11, 2020 — Reward down:  12.5 BTC to 6.25 BTC

  • 4th Bitcoin halving date — April 19, 2024 — Reward down: 6.25 BTC to 3.125 BTC

  • 5th Bitcoin halving date — April 17, 2028 — Reward down: 3.125 BTC to 1.5625 BTC

Bitcoin Halving 2012 (First Halving)

Before the first halving on November 28, 2012, the block reward was set at 50 BTC. After the event, the reward was reduced to 25 BTC per block.

Cryptocurrency mining software Slush Pool was the first to mine the block using a Radeon HD 5800 miner.

Here are the details of the exact block where the reward decreased from 50 BTC to 25 BTC.

  • Block number: 210,000

  • Block reward: 25 BTC

  • BTC created per day: 3,600 BTC

  • BTC price before the halving date: $12.35

  • Bitcoin price 1 year later: $964

Bitcoin Halving 2016 (Second Halving)

The second halving occurred on July 9, 2016.

Prior to the halving, the new BTC per block was 25. It was reduced to 12.5 BTC per block.

  • Block number: 420,000

  • Block reward: 12.5 BTC

  • BTC created per day: 1,800 BTC

  • BTC price before the halving date: $663

  • BTC price a year later: $2,500

Bitcoin Halving 2020 (Third Halving)

The third halving event occurred on May 11, 2020.

This last Bitcoin halving event reduced the block reward from 12.5 BTC to 6.25 BTC.

  • Block number: 630,000

  • Block reward: 6.25 BTC

  • BTC created per day: 900 BTC

  • BTC price before the halving date: $8,500

  • BTC price after: Peaked to $69,000 over the next several months

The fourth halving is estimated to occur at 840,000 based on the block time of around 10 minutes. It’ll bring the block reward down to 3.125 BTC.

Bitcoin Halving 2024 (Fourth Halving)

The fourth halving event occurred on: April 20th, 2024

  • Block number: 840,000

  • Block reward: 3.125 BTC

  • BTC created per day: Estimated to be 450 BTC

  • New total supply of Bitcoin: 656,250

Bitcoin Halving 2028 (Fifth Halving)

The fifth halving is expected to occur on April 17th, 2028

  • Block number: 950,000

  • Block reward: 1.5625 BTC

  • BTC created per day: Estimated to be 225 BTC

  • BTC price before the halving date: $61,100

  • New total supply of Bitcoin: 328,125

Price History at Halving

Trading View

Here’s a quick recap of all the Bitcoin halving schedule (past and future) until 99% of the Bitcoin are mined.

Halving Recap Table

When Will All 21 Million Bitcoin Be Mined?

Given the current trajectory, Bitcoin halving is likely to repeat every four years (roughly) until the block reward becomes zero. It’s difficult to say what the future price or reward trends will look like. 

The Bitcoin numbers and rewards halve each event. Based on the current Bitcoin halving cycle and schedule, 100% of all Bitcoin will be mined sometime around the year 2140.

What to Know: 99% of the total Bitcoin supply will be mined by 2032.

How Does the Bitcoin Halving Work?

Bitcoin halving reduces the rate at which new Bitcoin are created and introduced into circulation.

The process is programmed into the Bitcoin protocol and controls the supply and demand of Bitcoin.

Here are some of the steps involved in a Bitcoin halving:

  • Bitcoin Block Reward: The Bitcoin network creates a reward for miners for validating transactions and adding new blocks to the blockchain. Block rewards are the primary incentive for miners to secure the network.

  • Halving Schedule: The block reward is halved roughly every 210,000 blocks or four years. This interval controls the creation of new Bitcoin over time.

  • Reduction of Block Rewards: After every halving, miners receive 50% less Bitcoin as a reward for their work.

  • Scarcity and Supply: Reducing the rate at which new Bitcoins are circulated controls inflation and ensures that the total supply of Bitcoin gradually approaches its 21 million coin limit.

Transaction Data Example

How Does the Bitcoin Halving Impact Miners?

  • Miners use computational power to solve complex mathematical problems.

  • This secures the network.

  • When the block reward is halved, miners get fewer Bitcoin for their efforts.

  • This affects the profitability of mining operations as miners have to anticipate reduced block rewards and adjust their strategies accordingly.

How Does the Bitcoin Halving Impact the Greater Cryptocurrency Market?

Bitcoin halving events often generate a lot of interest and speculation in the cryptocurrency market. Anticipating lower supply and potential demand increases can contribute to price volatility.

During previous halving events Bitcoin price experienced both pre-halving rallies and subsequent price increases in the months and years following the event. However, Bitcoin’s price is influenced by aa multitude of various factors and isn’t solely determined by halving events.

Does the Halving Always Increase the Price of Bitcoin?

While the halving is often associated with positive price movements in Bitcoin, it does not guarantee an immediate or automatic increase in price. Every halving leads to smaller increases in the circu­lating supply of Bitcoin.

Supply shocks can potentially impact the configuration and scale of Bitcoin’s price fluctuations before and after each halving event.

Nonetheless, the proportion of new supply in relation to the existing supply has diminished due to the reduction in the scale of these shocks from one halving occurrence to the subsequent one.

Over time, we can anticipate the influence of supply shocks on Bitcoin’s price surges will become notably less pronounced. Consequently, we should foresee less substantial shifts in Bitcoin’s price from the trough to the peak that stem from halving events.

The peaks in price will be of a reduced scale as the corresponding supply shocks become progressively less impactful.

Various factors, including market sentiment, overall demand for Bitcoin, investor speculation, and external events, influence the market’s reaction to the halving. While historical trends suggest that the halving has contributed to price appreciation over the long term, short-term price movements can be unpredictable and subject to market dynamics.

Learn more about Bitcoin mining, Swan’s mining role in the mining ecosystem and latest Bitcoin news.


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