The latest Bitcoin halving news show that the event of the year just happened – and BTC jus experienced its third halving in history. The cryptonews show that the recent Bitcoin halving has cut the miner block reward from 12.5 BTC to 5.25 BTC.
As the most anticipated cryptocurrency event of 2020, the Bitcoin halving news show that the third halving has just taken effect. An event like this occurs only once in every four years, and the latest block reward halving took place at 3:23 pm EST on Monday, according to data from TradeBlock.
What is very interesting to note in the Bitcoin halving news is that YouTube canceled the BTC halving live stream for being “harmful content” – again proving that it is a major rabbit hole when it comes to cryptocurrency related topics.
Anyways, halving overcome the halving, Bitcoin is trading at $8,500 with a market dominant of 67% right now. Since the first Bitcoin block was created back in 2009, there have been three halving events so far. Taking place on every 210,000 blocks mined or approximately once in every four years, a Bitcoin halving cuts the current miner block reward by 50%.
The Bitcoin halving news show that the first event like this took place in 2012, when the original block reward of BTC was cut from 50 BTC to 25 BTC. The second halving took place in 2016, with the reward dropping from 25 BTC to 12.5 BTC. The latest BTC halving cut down the reward to 6.25 BTC, respectively.
Knowing that Bitcoin’s supply is limited to 21 million coins, halving events should continue to take place in the Bitcoin news until the year 2140, or until the 21-millionth BTC. By this time, the block reward should reach 1 satoshi or the smallest unit of Bitcoin at 0.00000001 BTC.
The two previous Bitcoin halvings impacted Bitcoin’s price in positive ways. That way, many analysts right now are bullish on the price of the dominant coin and people are confident that this halving will definitely (positively) affect the price of the cryptocurrency due to a cut in the new Bitcoin supply.
At the end of the day, this is the latest Bitcoin halving and we will wait to see if the event has a direct impact on miners. A number of experts predict that the new halving will trigger miners to shut down generating new Bitcoin. However, these are only rumors right now and we will see what happens moving forward.
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