The Bitcoin halving is a very important event that happens every four years on the Bitcoin network.
The 2012 Bitcoin halving in particular was incredibly exciting because it was the first of the 3 halvings we have had since Bitcoin started in January of 2009.
Let’s take a look!
In the 2012 Bitcoin halving, which was the first Bitcoin halving, we saw the reward drop from 50 to 25 BTC per block.
This means Bitcoin’s inflation rate was cut in half.
The Bitcoin 2012 Halving took place on November 28, 2012.
➤ MORE: 2024 Bitcoin Halving Countdown
Between January 3rd, 2009 (the start date of Bitcoin) to November 27, 2012, Bitcoin went from being worthless (in terms of dollar value) to around $12.25.
Usually, the Bitcoin price goes up shortly after halvings.
And that is exactly what happened after the 2012 halving event.
From November 28, 2012, and around Early April 2013, Bitcoin steadily rose, peaking at $230, then quickly dropping back down to around $68.
Then the horses were off to the races…
Over the next 8 months, Bitcoin shot up to over $1,100 before sloping off once more until after the next halving in 2016.
And that is more or less what happened after the 2012 halving.
You can track the 2024 Bitcoin halving estimated date using our Bitcoin halving countdown clock.
We estimate the 2024 halving date based on live Bitcoin network data, ensuring an accurate estimate.
The 2024 halving will likely create tons of media hype and interest in Bitcoin.
We’ve seen price predictions from Chase bank analysts as high as $120,000 and even Adam Back, CEO of Blockstream make bets that Bitcoin will reach at least $100k.
The 2024 halving is important because it is the year Bitcoin’s inflation rate will finally go below gold, making it the scarcest money to ever exist.
You can read about both of those here:
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