Analysts at CoinGecko discovered that, generally speaking, Bitcoin's value surged after its prior halves cycles.
Analysts at CoinGecko discovered that, generally speaking, Bitcoin's value surged after its prior halves cycles.
The article claims that the rate of Bitcoin (BTC) surged by an average of 3,230% following the halving of each mining incentive.
The payout was halved once, on November 28, 2012, from 50 BTC to 25 BTC. After the halving, the asset's value increased from $12 to $1,075 in a year. The rate increased by 8,858% in a year. The inflation rate dropped from 25.7% to 12% by January 2022.
On July 9, 2016, the incentive for mining a block was lowered from 25 BTC to 12.5 BTC, marking the second halving. After a year in which the value of Bitcoin surged by 294%, the market responded with yet another rise. The price of Bitcoin jumped from $650 to $2,560, and its inflation rate decreased from 8.7% to 4.1%, making it the first cryptocurrency.
On May 11, 2020, there was a third halving, with the block reward falling to 6.25 BTC. After the 2020 halving, the price of Bitcoin rose by 540% in just one year. The price of Bitcoin shot up to $55,847 from $8,727.
Due in large part to the excitement around spot Bitcoin ETFs and optimistic investor expectations, Bitcoin had a great start to the year, rising to an all-time high of almost $73,000.
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