Bitcoin has just been halved, which means that the rate at which new Bitcoins are created is now half of what it used to be. The halving of Bitcoin is an event that took place Monday evening through the mining of the 630 000th block, it is the third time that Bitcoin has been halved, such an event takes place roughly every 4 years. The value of Bitcoin didn’t change much as a result of the event.
The point of halving the amount of Bitcoins a person can mine is to ensure there are a finite amount of Bitcoins. Bitcoin will half a total of 64 times, after that no more Bitcoins will be rewarded.
After the first halving in 2012 the price increased from $11 to $1150 and after the second halving in 2016 the price went from $650 to nearly $20000.Tags: bitcoin