Bitcoin’s Block Reward is Cut in Half in Less Than a Week

The Bitcoin halving, where Bitcoin’s block reward will decrease from 12.5 to 6.25 BTC a block, is less than a week away. It will occur at block 630,000.

This event is generally bullish for Bitcoin, as it means newly issued coins are more scarce. With that said, there is no rule that says BTC has to sustain an uptrend into or beyond the halving.

Still, as you can see from the chart below, so far halvings have in many ways marked the start of a new market cycle which takes us to new all time highs. Does the pattern continue, that is anyone’s guess. For sure two instances does not a reliable pattern make, still the event does come up in the less than a week none the less.

Bitcoin Halving dates and trendlines.