• halving happens every four years and after each halving, BTC’s supply rate decreases by 50%.
• Bitcoin is now at the halfway point towards its third half-century mark.
• 105,000 blocks out of 210,000 are already mined since 2020.

Each four year, the Bitcoin halving occurs. After each halving, BTC’s supply rate decreases by 50%. The current rate means the process is likely to continue until 2140. This will be the end of the mining phase.

Bitcoin is now at the halfway point towards its third and final halving. It happened on Thursday when Block 735,000 was mined. Poolin earned 0.16215354 BTC. BTC enthusiasts believe this to be a bullish indicator for the cryptocurrency’s price, as it reduces its issuing rates by 50%.

This halving cycle, like all others, has 210,000 blocks to be mined. Half of these blocks have been mined since 2020, and 105,000 have been mined.

The next halving is expected to happen in Q2 of 2024 and will cut Bitcoin’s supply rate by 50% which will most likely cause another “supply shock”. About 90% of 21 million BTC have been mined. This means that less than 7 percent of total supply is still available when the fourth halving cycle begins.

It is also important to mention that Wednesday’s mining hash rate reached an all-time peak (ATH), at 249.1 exchanges per seconds, right before the second half was started. As the cryptocurrency selloff intensified, the metric has trended down.

Bitcoin’s system is designed to trim the number of each block’s rewards by half after the next halving which will happen in two years. For each block that they mine, miners will only receive 3.125 BTC if their transactions are validated on-chain.

Bitcoin’s history indicates that a violent upward price action occurs after each halving.

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