The next Bitcoin (BTC) halving which will reduce the block rewards for mining to just 6.25 BTC is exactly 1 year away. Currently, about 84% of all Bitcoins have been mined and the last 16% will take an increasingly longer time to mine as subsequent halvings arrive. The next halving will occur on May 20, 2020, and will see daily bitcoins mined reduced from 1,800 to 900.
T-minus 1 year to next Bitcoin halving #bitcoin pic.twitter.com/8zNgBeyMvw
— Alan Silbert (@alansilbert) May 20, 2019
Bitcoin Halvings A Sort of Birthday for Bitcoin
Bitcoin halvings are widely celebrated. It is something of a momentous occasion that marks the growth of the digital asset.
Historically, halvings have been followed by strong rallies. In the last halving in 2016, Bitcoin rose roughly 10x in price, and previous halvings have seen tremendous spikes as well, as demonstrated by this tweet by Tuur Demeester,
Halvening centric perspective on Bitcoin price. H/T @StoicTrader_ & @MLescrauwaet pic.twitter.com/89trRlSOqd
— Tuur Demeester (@TuurDemeester) May 16, 2019
There are several developments that indicate that a new all-time high may just be arriving: Binance has reported a higher number of orders than January 2018, Fundstrat has pointed to several technical indicators and banks across the world have been considering blockchain technology.
Investors have long been waiting for a bull market that pushes the crypto market to the highs of late 2017 and early 2018. By the looks of it, Bitcoin may well be on the way to finding new bottoms and reaching new highs.
