There are exactly 12 months left until the next bitcoin halvening
The next halvening of bitcoin or halving the reward for miners for adding transactions to the blockchain of the leading cryptocurrency will take place at block 630,000, which will be mined in a year, Trustnodes reminds.
Without resorting to any outside help, the algorithm embedded in the code will instantly reduce the size of the reward from 12.5 BTC to 6.25 BTC, along with which the annual inflation rate of the cryptocurrency will fall from 4% to 2%. Today miners mined 1,800 BTC per day without taking into account their opinion will be reduced to 900 BTC.
Halvening 2020 will be the third in the history of bitcoin. The first of these occurred in 2012, when the size of the awards dropped from 50 BTC to 25 BTC. Some miners tried to protest and added blocks to the chain based on their own rules, where the size of the rewards was not reduced, however this fake bitcoin was not accepted by the wider community. A year later, the cryptocurrency rate reached its all-time high at that time above $ 1,000.
The second halvening took place in mid-2016 and led to a decrease in the reward by another half – to 12.5 BTC. The significance of this event was highlighted by the discussion of scalability issues, and the miners obeyed the new rules without any excesses, continuing to perform the task assigned to them, contrary to some expectations..
The upcoming halvening of bitcoin is already in the minds of analysts. While some pin significant hopes on it in the context of the rise in the price of cryptocurrency, others expect that the effect of lowering inflation, if any, will be blurred, as market participants have information about upcoming events in advance, which will allow them to adjust their strategies appropriately way.
There are also extreme predictions. In the middle of last year, What’s On Crypto channel, relying on the “halvening line”, predicted that by 2023 the bitcoin rate could rise to $ 10 million.
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