1 August 2026
History Created As Bitcoin Completed Its Third Halving
The most awaited event of cryptocurrency 2020, Bitcoin's third halving just took place. Bitcoin halving occurs once in every four years and this halving reduced the bitcoin block reward from 12.5 BTC to 6.25 BTC.
As per the data shared by Tradeblock.com, the event took place at 3:23 p.m. EST on Monday. Currently, Bitcoin is trading at $8,500, with the market dominance of 67%.
The first bitcoin block was generated in 2009 and since then, it was the third halving. Bitcoin halving happens when every 210,000 blocks are mined or once every four years that cuts down the miner block reward by 50%. In the first halving, the original block reward was cut from 50 BTC to 25 BTC. In the second halving, the block reward was dropped from 25 BTC to 12.5 BTC.
The supply of bitcoin is limited to 21 million and as a result, bitcoin halving events will occur until the year 2140 or until the 21-millionth BTC. The block reward at that time should reach 1 satoshi or the smallest unit of Bitcoin at 0.00000001 BTC.
The previous two bitcoin halving resulted in a positive way for bitcoin price which leads to the subject of diverse price predictions and speculation. Some crypto players state that third halving will not affect the bitcoin’s price while others say halving will definitely affect the price of the cryptocurrency due to a cut in the new Bitcoin supply.
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