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7 Explosive Facts About Bitcoin Halving Every Bitcoiner Should Know

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By Augustine Mbam - - 5 Mins Read
A piece of Bitcoin split in half
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A piece of Bitcoin split in half



Let's delve into the mystery of the Bitcoin halving phenomenonBitcoin halving is one of the most prominent and important events in the crypto industry. The next Bitcoin halving is expected to happen in 2024 when the rate of mining each block of Bitcoin will be reduced.

The Bitcoin halving event is when mining rewards are reduced by half; this typically happens every 4 years. 


We must look at how Bitcoin is produced for a more concise breakdown. Bitcoin runs on a proof-of-stake algorithm, which enables it to be mined. Bitcoin miners earn rewards for mining every 210,000 blocks of Bitcoin. Bitcoin halving entails splitting these rewards in half every 4 years to decrease the number of new coins that enter the network.


So, we have created some fun facts for you so that you can learn more about this sacred event. 


1. It Happens Every Four Years 

Bitcoin halving is not something you will get to witness every year or two years. Like the leap year or those born on the 29th of February, the crypto community gets to see the Bitcoin halving process every four years.


One of the things that makes this event very special is the large number of years that pass by before it happens. Many bear and bull markets occur in the crypto industry during the waiting period leading up to a Bitcoin halving date. From a different perspective, the crypto industry must wait 1461 days to celebrate this event. 


2. Bitcoin Halving Usually Leads to Price Increase 

Numerous crypto traders and investors are gathering as much Bitcoin as possible in anticipation of the upcoming halving. This is because Bitcoin's historical data indicates that its value consistently rises after each halving event.


Since it became a four-year occurrence, many investors usually stock up their portfolio with large amounts of Bitcoin, expecting a new massive price increase. If you check the Bitcoin halving dates, you will see the percentage of price increases at each interval. 


3. Mining Rate Is Slashed by 50% 

Many miners become anxious when they hear about a Bitcoin halving because it results in a 50% reduction in the mining rate of Bitcoin. This means that the rewards earned by miners will also decrease by 50%. So, when you hear about a Bitcoin halving countdown, be aware that the mining rate will be affected, resulting in reduced rewards for miners.


In other words, the next Bitcoin halving will see the block reward fall from 6.25 to 3.125 bitcoins. But this might create FOMO within the Bitcoin mining sector, as more people will want to participate. 


4. Huge Chances Of Miners Increasing 

Anytime the Bitcoin halving countdown begins, there's always fear that the number of miners will decrease due to the reduced rewards they will be getting. But most times, the reverse is usually the case as more people join in mining Bitcoin with the hope of getting as much as possible before the next halving. It is just like the fear of missing out (FOMO).


Some newbie miners won't mind paying any expense to partake in the rewards from approving Bitcoin network transactions. Additionally, Bitcoin has a built-in Diffi­culty Adjust­ment Algorithm, which makes the whole mining process profitable whenever there's a halving. 


5. Law of Scarcity Kicks in 

In simple economics, the value tends to increase massively when something gets scarce. For instance, when you go to many deserts worldwide, you will notice that the chances of getting water there are very low. This makes those who live in deserts appreciate water very much because they know its importance. The same thing applies to Bitcoin halving. Since the number of Bitcoin mined in each block is drastically reduced, it makes it more scarce. In the same way, the law of scarcity kicks in, making Bitcoin to be more valuable. 


6. Bitcoin Increased by 10000% in the First Halving 

As said above, Bitcoin's halving has an incredibly bullish effect on the price of the cryptocurrency, as seen in past events. During the first halving event in the crypto industry, the value of Bitcoin increased by an impressive 10000%. This profit margin is truly remarkable and can be difficult to fathom as an investor.


The first Bitcoin halving happened in 2012, and the price of Bitcoin increased by 12 US dollars to a whopping 1150 US dollars. 


7. Bitcoin Halving Will End By 2140

There's a theory by many experts that the event of Bitcoin halving will end by 2140. In order to fully comprehend this concept, it's important to understand the definition of maximum supply. Maximum supply refers to the highest amount of a cryptocurrency that can ever exist. Once this amount is reached, no additional cryptocurrency units can be created.


For instance, Bitcoin has 21 million as its maximum supply. So if Bitcoin should reach 21 million in circulation, none will be produced again. So, it is predicted that 2140 will be the last year for Bitcoin mining.