Bitcoin Halving Countdown: 50 Days Until Historic Phenomenon

The bitcoin (BTC) halving is approaching. According to estimates from GoinGecko and OKLink, it is the closest bItcoin halving still just over 50 days away. Quickly grab your calendar and mark this date as a possible option.

Bitcoin halving on April 21st

Miners receive rewards of “Mining‘ or discover new blocks. A halving occurs every 210,000 blocks and occurs approximately every 4 years. During the upcoming halving, the block rewards miners will receive will increase from 6.25 Bitcoin to 3,125 Bitcoin. The purpose of a halving is to combat inflation.

Source: bitcoinblockhalf.com

After the countdown of Coingecko And OKLink The next halving event would take place on April 21, 2024. That would mean it’s still 50 days away, or about 7,300 blocks.

Bitcoin Halving History

Bitcoin’s upcoming halving would be the fourth-ever halving in Bitcoin’s history. It all started in 2012 when the first halving took place. The block rewards for miners then halved from 50 BTC to 25 BTC. The second took place in 2016 and went from 25 BTC to 12.5 BTC. The last halving to date took place on May 11, 2020 and the block rewards increased from 12.5 BTC to 6.25 BTC.

The last Bitcoin halving would occur around 2140, meaning that after that, miners would only be able to earn from transaction fees. Also a fun fact: at today’s price, miners would receive a block reward equivalent to $3,115,000 for the first halving mined at that time.

Bitcoin price higher than ever before halving

The price of Bitcoin is higher than ever before a halving. Earlier this week, Bitcoin hit $64,000, just 10 percent below its previous all-time high. In November 2021, Bitcoin reached its record price of $69,000

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At the time of writing, Bitcoin is trading at $61,850. February was very good Crypto Month in which Bitcoin rose by around 47 percent. This was the largest percentage increase since December 2020.

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