The fourth Bitcoin halving event is estimated to happen within the next four months. Various sources, including CoinGape, predict that it is roughly going to happen on April 11, 2024. This means there are over 90 days left for the next Bitcoin halving event. Let us discuss more on the upcoming Bitcoin halving event, in the present article.

Bitcoin Halving Schedule

When Satoshi Nakamoto developed Bitcoin, he set some predefined rules. And the halving event is a crucial one of them. The Bitcoin halving event schedule is implemented on the Bitcoin blockchain to reduce the number of Bitcoins that come into circulation. The main motive of Bitcoin halving is to achieve a limited supply of 21 million over time.

Bitcoin halving occurs every four years and after mining of every 210,000 blocks. It reduces the mining rewards by 50% and slowly drops the amount of BTC that comes into circulation. So far, 3 Bitcoin halving events have already happened and slashed the block reward 3 times.

The first Bitcoin halving event took place on November 28, 2012 and reduced block reward from 50 BTC to 25 BTC. After roughly around 4 years, the second Bitcoin halving event happened on July 9, 2016 and further reduced the block reward to 12.5 BTC. And, the third Bitcoin halving event took place on May 11, 2020, which resulted in the current block reward of 6.25 BTC.

How Many Days are Left For Bitcoin Halving in 2024?

In short, more than 90 days are left for the upcoming Bitcoin halving event. Approximately, the Bitcoin halving event is about to take place in mid-April, 2024. When it finally happens, it reduces the current block reward of 6.25 BTC to 3.125 BTC. Furthermore, it also adjusts the mining difficulty and other related parameters.

Bitcoin Halving Impact on Price

Historically, Bitcoin halving events are known to impact the crypto market to a large extent. After each Bitcoin halving event, the BTC price witnessed new all-time high values. Bitcoin maxis are expecting the same thing to happen, which is Bitcoin price to go up after the upcoming Bitcoin halving as well.

Additionally, the anticipation of Bitcoin spot ETFs also added to the scenario. Bitcoin market price has already witnessed considerable price surge in December 2023 as investors are flocking to the market to make profits in a few months.

However, there are several instances where past market patterns do not repeat. The same could happen in the case of Bitcoin as well. While it is true that Bitcoin price didn’t increase right after previous Bitcoin halving events, the price did increase over time. But, it is difficult to say if this could be the case with the upcoming Bitcoin halving event.

Conclusion

The upcoming Bitcoin halving event is currently the most anticipated event in the crypto industry. From BTC holders to newcomers, the entire crypto community is awaiting for it and also to witness its influence on the market. Even though several speculations are coming out on this subject, there are only more than 90 days left for the Bitcoin halving event, to find out what happens next.