RATE Group | How Will the May 2020 Bitcoin Block Halving Impact the Market? – Crypto.IQ
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How Will the May 2020 Bitcoin Block Halving Impact the Market? – Crypto.IQ

22 Dec How Will the May 2020 Bitcoin Block Halving Impact the Market? – Crypto.IQ

Posted at 05:37h in Bitcoin News by

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Bitcoin is designed to have a maximum supply of 21 million Bitcoin, and this maximum supply is achieved by halving the block reward every 210,000 blocks, which is once every four years.

Initially, the block reward was 50 Bitcoins, and since then, this has been halved twice, to 25 Bitcoins and currently 12.5 Bitcoins.

According to The Halvening, the next Bitcoin block halving will occur in May 2020 when block 630,000 is mined. As of this writing, Bitcoin is at block 554,800, so there are 75,200 blocks until the halvening. This corresponds to 522 days when using a block time of 10 minutes, so the math on The Halvening seems to be accurate.

In May 2020, the block reward will decrease to 6.25 Bitcoins, and this has the potential to impact the Bitcoin market. Here, we’ll explore the past two block reward halvenings to consider what may happen in May 2020.

The first block halvening occurred on Nov. 28, 2012, and the block reward was slashed from 50 Bitcoin to 25 Bitcoin. The…

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