The Bitcoin halving is one of the most celebrated events in the Bitcoin world.
The 2020 Bitcoin halving was exciting and a lot happened before and after.
Let’s take a look!
In the 2020 halving, which is the most recent Bitcoin halving, the reward dropped from 12.5 to 6.25 BTC per block.
This means Bitcoin’s inflation rate was cut in half.
The Bitcoin 2020 Halving took place on May 11, 2020.
➤ MORE: 2024 Bitcoin Halving Countdown
The Bitcoin price hit a low of $3858.00 USD on March 12, 2020.
In the next two months before the halving, the price would nearly triple and hit $10,000 USD on May 6, 2020, which was 5 days before the halving.
In the chart below, the black vertical line is the day the 2020 halving took place:
Usually, the Bitcoin price goes up shortly after halvings.
And that’s exactly what happened in 2020 after the halving.
By the end of July 2020, Bitcoin’s price came roaring back from its 2020 low of $3858.00 USD and hit more than $12,100 USD in late July 2020.
By the end of 2020, Bitcoin went on to hit more than $30,000 USD per bitcoin and hit nearly $42,000 per bitcoin by January 2021. This can be seen in the chart below:
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.
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.
There were many livestreams of the 2020 halving, including this 12-hour special live stream. Re-live the 2020 halving and watch below!