Bitcoin Halving Dates History
What is the Bitcoin (BTC) halving (halvening)?
The first point I’d like to clarify is that the term “Bitcoin halving” does not indicate a bitcoin halve in value, or that the price will be cut in half.
In crypto, halving (sometimes referred to as “halvening”) refers to the number of tokens or coins that a miner receives for adding new transactions to the blockchain (i.e. reward for mining new blocks) being cut in half. While there are many cryptos that experience a halving, not all do. However, the most discussed halving in the media is that of the Bitcoin block reward halving.
In the case of Bitcoin (BTC), halvings occur once every 210,000 blocks. Currently, one block on the Bitcoin blockchain takes approximately 10 minutes to complete. Therefore a BTC halving will happen roughly every four years. These halvings are built into the Bitcoin code and will continue until the network has generated the maximum supply of 21 million Bitcoins.
The current Bitcoin block reward (after the third halving in 2020) is 6.25 Bitcoins per block.
Bitcoin halving dates – History & Future
Below is a table of historic and future Bitcoin halving dates, block number and block reward changes.
|Halving (BTC)||Date||Block Number||Block Reward||BTC % Mined||Price on |
Halving Day (USD)
|Bitcoin launch||3rd Jan 2009||0 (Genesis Block)||50 BTC||50%||N/A|
|1st halving||28th Nov 2012||210,000||25 BTC||75%||$12.35|
|2nd halving||9th Jul 2016||420,000||12.5 BTC||87.5%||$650.53|
|3rd halving||11th May 2020||630,000||6.25 BTC||93.75%||$8,821.42|
|4th halving||between Feb to May 2024||840,000||3.125 BTC||96.875%||?|
|5th halving||approx. 2028||1,050,000||1.5625 BTC||98.4375%||?|
|6th halving||approx. 2032||1,260,000||0.78125 BTC||99.21875%||?|
|7th halving||approx. 2036||1,470,000||0.390625 BTC||99.609375%||?|
|8th halving||approx. 2040||1,680,000||0.1953125 BTC||99.8046875%||?|
As discussed above, Bitcoin halvings happen every 210,000 blocks until approximately the year 2140, when all 21 million bitcoins will have been mined. However, as you can see from the table above, over 98% will be mined and in circulation by 2028.
When is the next Bitcoin halving?
As at the time of writing, the next bitcoin halving date, the fourth, will happen on BTC block number 840,000 which is likely to occur in the first half of 2024 (between February to May).
BTC halving price prediction
Historically there has been a significant increase in the price of Bitcoin (BTC) between each halvening event (around a four year period give or take a little).
- BTC price was US$12.35 on the day of the first halving in 2012
- BTC price was US$650.53 on the day of the second halving in 2016
- BTC price was US$8,821.42 on the day of the third halving in 2020
- Where will Bitcoin’s price be on the day of the fourth halving in 2024?
Please leave your BTC price predictions for the next halving in 2024. We will update this article after the next halving of Bitcoin with the winner who is closest 🙂
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