May 13, 2020

The third bitcoin half is a fact

Last Monday night the third bitcoin half took place. This means that miners instead of 12.5 BTC get only 6.25 BTC as a reward. From the previous halving we learned that a halving benefits the price of the bitcoin in the long run. Maybe a good moment to step in now.

BOTS by RevenYOU | The third bitcoin half is a fact
BOTS by RevenYOU | The third bitcoin half is a fact

Bitcoin halving

For anyone familiar with the bitcoin, the bitcoin halving is something to look forward to. The halving of the bitcoin influences the course of the bitcoin.

How does that work exactly?

All transactions with bitcoins are bundled into blocks. These blocks are processed by miners. Miners receive a fee for this in the form of bitcoins. These bitcoins are newly added to the market. This fee is halved after every 210,000 blocks. This is called the bitcoin halving.

The past of the Bitcoin halving

Between 2009 and 2012 one miner received a fee of 50 bitcoins for each block processed. During the first half this fee was halved to 25 bitcoins per block. After the second half (in July 2016) the fee was halved to 12.5 bitcoins per block. Since yesterday, the fee has been halved again. So now to 6.25 bitcoins per block.

The course of the course after the Bitcoin halving

Because the fee that miners receive is halved again, fewer new bitcoins come onto the market. This creates a certain degree of scarcity. If the demand for bitcoins is equal, the price rises.

The bitcoin price has risen at both the 2012 and 2016 halves. And that might make it interesting to start investing in the bitcoin right now.

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