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What Is Bitcoin Halving And How Will It Affect It’s Price? What You Need To Do?

Every four years, the number of new bitcoins created per block is cut in half. This scarcity limits the supply and can propel the BTC price upwards. Learn more about what you need to do at the end of this article.

The 4th Bitcoin Halving took place on  April 20th, 2024 at 8:44 AM GMT+8

What Is Bitcoin Halving?

Bitcoin has many unique characteristics embedded in its code, which is programmed to limit the total maximum supply to 21 million BTC. Bitcoin’s most important aspects are its fixed supply and decreasing block rewards. This occurs about every four years.

This decrease in the rate of bitcoins issued is called ‘Bitcoin halving’. In 2012, the reward was 25 bitcoins per block, and in 2016, it decreased to 12.5 bitcoins per block. As of September 2023, miners are rewarded 6.25 bitcoins per block mined.

When exactly is the Bitcoin Halving?

The 2024 Bitcoin Halving occurred on April 20th, 2024 at 8:44 AM GMT+8, when the network reached a block height of 840000. The next Bitcoin Halving is expected to occur on April 17th, 2028.

These expected date will constantly change and automatically update on each block. The closer we get to the next halving, the more accurate these predictions will be.

How Does It Affect It's Price?

Bitcoin halving doesn’t just impact BTC’s price, but the entire crypto market. With all eyes on the event, it’s crucial to understand how it works so you’re prepared when it takes place. Here are some basic facts:

  • Bitcoin halving is a pre-programmed event that cuts the reward given to miners by half, intending to lower inflation by reducing the amount of new BTC created.

  • Taking place roughly every four years, the halvings thus far have reduced the reward for mining a block from 25 BTC to 12.5 BTC and then to 6.25 BTC.

  • The effect of halving on Bitcoin's price is debated, but the anticipation of the event has historically led to increased market activity.

How Is Bitcoin Halving Connected to Bitcoin Mining? 

For every 210,000 blocks, the number of newly issued bitcoins is cut in half. This translates to roughly every four years, depending on how quickly blocks are mined, which averages about every 10 minutes. 

Blocks are added to the Bitcoin blockchain by a process called mining, which typically involves special computers called Application-Specific Integrated Circuits (ASICs) — computers designed to compute fast.

Mining is used to permanently add transactions to the blockchain without the interference of any centralized party. Miners are incentivized to secure the network by spending resources (mining), and are subsequently rewarded with bitcoins.

Bitcoin Halving Dates

There have been three Bitcoin halvings so far: the first one occurred in November 2012, when the block reward was decreased from 50 bitcoins per block to 25 bitcoins per block; the second halving in July 2016, when the reward per block was reduced again, from 25 bitcoins per block to 12.5 per block; the third halving happened in May 2020, when block rewards decreased from 12.5 bitcoins per block to 6.25 bitcoins per block.

Does Halving Affect Bitcoin’s Price?

The short answer is ‘yes’. This is based on the history of bitcoin. Bitcoin has always seen at least a doubling in value since 2009.

BTC price can be affected by the halving as:

  • Rewards are halved, which promotes a sustainable growth of the network. By reducing the rate at which new bitcoins are generated, the halving ensures that Bitcoin’s supply remains limited.

  • The inflation rate of Bitcoin decreases after a halving, meaning the supply of new coins entering the market is reduced.

This topic is often debated amongst market analysts and participants. Some believe the halving will cause a huge increase in the price of Bitcoin, as the reduced inflation rate will lead to higher demand and a corresponding increase in value. Others argue that the halving is already priced into the market, and the event will not affect the cryptocurrency’s price.

What Should You Do To Take Advantage of Bitcoin Halving?

In a nutshell, accumulating Bitcoin should be on your forever priority list when it comes to the granddaddy of crypto. This however does not mean that you should rush to the nearest exchange and dump all your hard-earned assets and purchase Bitcoin. Bad move! Not advised at all.

EARN Your Bitcoin via Mining and Affiliate Programs

The educated choice should be to take advantage of every avenue that pays out Bitcoin as a reward. In other words, “earn your Bitcoin.” Participate in programs that payout Bitcoin as a reward for actions taken.

1. Mining:

With the mining option, you need to exercise caution by selecting the programs that utilize the least of your hardware resources and financial outlay. Majority of the mining programs out there are counterproductive, although they may seem to be paying out well. Without costing you an arm and a leg, it is highly unlikely that you are going to make any money at all. We are talking several hundred dollars of investment to see any tangible Bitcoin returns.

You would be better off sticking with free Bitcoin mining programs like CryptoBrowser. You are not likely to become a millionaire, but at least its no money out of pocket. If you have a spare computer lying around, simply install the browser, set the mining hashrate daily before browsing, and use it as much as you can. Playing YouTube background music videos may be a good way to keep your browser running and mining Bitcoin for you.

Free mining programs payout mere pennies in a day, but it also depends on how powerful your computer is. Don’t waste your time using your mobile devices.

2. Affiliate Programs

Affiliate programs are by far the BEST way of earning a relatively substantial amount of crypto.

Here again, you need to weigh the cost of your investment versus the crypto payout. As a rule of thumb, do not go for anything that is going to cost you over a hundred dollars. Identify the ones that payout instantly ( and globally), with the ability to withdraw all your earnings at any time. A program that restricts withdrawals is most likely to end up costing you, or it could turn out to be a scam.

Our all round choice for the highest paying crypto affiliate program with the lowest investment and out of pocket cost is a product-based membership club called LiveGood. It uses a unique auto-fill payment matrix system, and costs a mere one-time payment of $40.00 to join and a monthly $9.95 fee. ( Crypto or cards accepted ). With an affiliate referral bonus payout of $25 per referral, you only need to enroll 2 affiliates to recover your initial investment. From then onwards its sweet profits indefinitely. You have a choice of withdrawing your earnings in Bitcoin directly to your wallet, or via the global iPayout App in Fiat currency. It’s low startup cost and relatively high payout has literally caused a global phenomenon with over a million members in a record time of just 13 months. A first in history.

Should BTC Holders Worry About Bitcoin Halving?

Yes and no.

If you are holding all your Bitcoin on a public exchange, it may be wise to transfer them to a hardware wallet until the halving process is complete. A hardware wallet is a handheld device that looks like a USB memory stick, and is the safest place to store your crypto assets at all times. It’s worthwhile spending up to a hundred dollars or more to secure your hard-earned crypto assets.

Here is a reputable secure hardware wallet that is economical and safe.

Bitcoin halving is a pre-programmed event that reduces the amount of new bitcoins created. The impact on value can vary and is influenced by many factors. 

As such, it is important to understand the halving can have an influence on the value of Bitcoin and store your assets in a safe place during the halving event, and at all times.

Do Your Own Research

All examples listed in this article are for informational purposes only. You should not construe any such information or other material as legal, tax, investment, financial, or other advice. Nothing contained herein shall constitute a solicitation, recommendation, endorsement, or offer by to invest, buy, or sell any crypto assets. Returns on the buying and selling of crypto assets may be subject to tax, including capital gains tax, in your jurisdiction. Any descriptions of products or features are merely for illustrative purposes and do not constitute an endorsement, invitation, or solicitation.

Past performance is not a guarantee or predictor of future performance. The value of digital assets can increase or decrease, and you could lose all or a substantial amount of your purchase price. When assessing a digital asset, it’s essential for you to do your own research and due diligence to make the best possible judgement, as any purchases shall be your sole responsibility.

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