Crypto

Bitcoin is halfway to the next halving – Geeko

105,000 blocks have been mined since the last halving, the beginning of the last bitcoin cycle.

In jargon, “halving” means a reduction in the rewards given to bitcoin miners. By its very nature, Bitcoin is deflationary. Its quantity is limited. And to ensure the survival of their ecosystem, its creators have introduced a mining system that guarantees the security of the network by offering attractive rewards to miners, these machines that solve a series of complex mathematical problems to guarantee the security of the network. With each new cycle, the rewards are halved. Therefore, at the end of each cycle, miners “sell” less and less bitcoins. And indirectly, this affects the price of the asset, which tends to increase after each halving, given the fact that it is becoming increasingly rare. The “halving” period actually traditionally corresponds to the beginning of the bull market, during which the price of Bitcoin continues to break new records.

The first halving occurred after 50% of bitcoins were mined. There have been exactly 3 halvings to date. The last one happened in May 2020. The fourth is expected to occur in April 2024. However, it is impossible to say exactly when it will happen, since the date is constantly changing.

From the third to the fourth halving, 210,000 bitcoin blocks should be mined. This May 4th marks a key date in the cycle as the 105,000th block has just been mined, which means we are halfway to the next halving.

Currently, approximately 6.25 bitcoins are mined every 10 minutes. In the next cycle, the reward will drop to 3,125 bitcoins per mined block.

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