According to the Bitcoin halving countdown page , the current Bitcoin block height is 838056. There are less than 2,000 blocks left before the fourth halving, which is equivalent to less than 2 weeks. The fourth halving will be in the area. The launch occurs when the block height reaches 840,000, which is expected to be 10:17 pm on April 20, Taiwan time.
According to the Bitcoin halving plan, halving occurs automatically every 210,000 blocks, that is, about 4 years. Once the halving occurs, the Bitcoin rewards miners receive for mining will be reduced by 50% compared to before the halving. , but miners can continue to earn additional transaction fees for each newly mined block as usual.
Bitcoin has been halved three times in history. Its block reward dropped from 50 BTC to 25 BTC in the first halving in 2012, to 12.5 BTC in the second halving in 2016, and to 12.5 BTC in 2020. The third halving this year will reduce the block reward to 6.25 BTC, and the fourth halving this year will reduce the block reward to 3.125 BTC.
The total number of Bitcoins is only 21 million, and the halving event will continue until the last Bitcoin is mined, which is expected to occur around 2140. After that, miners will only earn transaction fees.
Extended reading: When is the 2024 Bitcoin Halving Ultimate Guide? What should I pay attention to? Impact on prices and miners..
Will the halving drive currency prices up?
Historically, in the past Bitcoin halving cycles, they were often accompanied by a significant correction, followed by a significant surge. The halving often occurred before Bitcoin ushered in a bull market. However, it is worth noting that Before the fourth halving has come, Bitcoin has already reached a record high in March, which is the first time in previous halving cycles.
Coinbase analysts David Duong and David Han pointed out that this is the first time in the halving cycle that Bitcoin has exceeded all-time highs before the halving, which may mean that smart traders have digested the impact of the pricing effect. However, They pointed out that people are still generally optimistic that the halving will push up the price of the currency, so the price may continue to rise.
PlanB, an anonymous analyst who has successfully predicted the price of BTC many times during the last bull market cycle,predicted this week that currently in the early stages of the bull market, the price of Bitcoin will "inevitably" reach $100,000 this year, and may Breaking through $500,000 next year.
Extended reading: PlanB predicts the halving market》Bitcoin will rise to 100,000 mg this year! We are currently in the early stages of a bull market and can last for a year.
