Bitcoin Halving Expected 4/20 2024 – But Its More Than A Meme


The Basics of the Bitcoin Halving

The Bitcoin “halving,” when the newly issued supply of Bitcoin is cut in half, occurs every four years. The next halving is predicted to happen April 20th, 2024 at block height 840,000.

This mechanism reduces the reward for mining new blocks on the Bitcoin network by 50%. This effects the supply of new bitcoins entering the market, and by extension tends to have an upward effect on the price of Bitcoin.

When is the 2024 Bitcoin Halving?

The upcoming Bitcoin halving, projected for April 19, 2024. It will decrease the block reward from 6.25 BTC to 3.125 BTC​​.

Historical Perspective

Since Bitcoin’s inception, there have been three halving events. The first in 2012 reduced the reward from 50 BTC to 25 BTC, the second in 2016 to 12.5 BTC, and the most recent in 2020 to 6.25 BTC.

These halving events help to control the inflation of Bitcoin, ensuring that its total supply will never exceed 21 million coins​​.

Price Expectations and Market Impact

Like in previous halvings, there is considerable speculation regarding the impact of the halving on Bitcoin’s price. Historically, Bitcoin has experienced significant price increases following halving events. For example, six months post the first halving, the price surged from approximately $12 to around $130. Similar patterns were observed in subsequent halvings, with prices generally trending upwards in the months following the events​​.

However, it’s important to recognize that past performance does not guarantee future results. The cryptocurrency market is influenced by a wide array of factors, and while the reduced supply of new bitcoins due to halving can potentially increase prices, there are no certainties​​.

For example, in 2020 there was a “black swan” of COVID-19 that caused drastic drop in the market right before the 3rd halving. Meanwhile, in 2016 there was a drop immediately after the halving because, according to some at the time, the halving was already “priced in”.

With all that said, if history repeats, we can expect a price rally in months following the halving as market prices adjust to the new supply decrease.

Impact on Miners and the Bitcoin Network

The halving event has a direct impact on Bitcoin miners, as their rewards for adding new blocks to the blockchain are halved. This reduction could influence the mining landscape by making it less profitable for miners with higher operational costs, potentially affecting the network’s security and health. However, historically, the network has remained secure and robust following past halvings​​.


If history is an indicator, we are approaching an exciting time for Bitcoin, not just in terms of price, but in terms of focus on Bitcoin from the wider community. That could come with not only profits for old and new investors, but with new innovations spurred on by the increased interest.

Author: Thomas DeMichele

Thomas DeMichele has been working in the cryptocurrency information space since 2015 when was created. He has contributed to MakerDAO, Alpha Bot (the number one crypto bot on Discord),...

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