When is the next Bitcoin halving?

Halving is a pre-programmed event in the Bitcoin code that takes place about every four years. The first time took place in November 2012, the second time in July 2016, the third time in May 2020 and the most recent time on April 20, 2024.

Thus, the next event will take place after an additional 210,000 blocks are mined, expected around 2028. The exact date and month will depend on the network's operating speed.

This event is designed as a deflationary feature of Bitcoin: Since there are only 21 million Bitcoins, the halving will ensure that creating new coins gradually becomes more difficult over time.

Miners or activities that consume a lot of energy processing transactions on the network will be rewarded with Bitcoin when minting new coins. The latest event reduced the reward from 6.25 BTC to 3.125 BTC for each block they processed.

This means miners will have to work more efficiently to stay afloat, while fewer Bitcoins will be added to the market. The next halving in 2028 will cut the reward even further to 1.5625 BTC per block mined.

Some industry experts believe that each halving will increase the long-term price of the asset by making it more scarce.

And history shows that they are probably right: from 1 year to 18 months after the previous 3 halvings, the price of Bitcoin not only increased but also reached sky-high prices.

However, Bitcoin price performance has not been so good recently. After hitting a new all-time high of $73,737 last month, it fell below its 2021 high of $69,044.

But experts in the field have said that volatility and even sharp price drops ahead of the halving are normal.

Jessica Tanner

Update 22 April 2024