How many Bitcoins are left unmined currently?

After the previous Bitcoin halving, 19.68 million out of 21 million total supply of Bitcoin had already been mined, with only 1.32 million (6% of total supply) left to be mined. With the next halving set to take place in April 2028, it is estimated that 95.3% of all Bitcoins will be mined, leaving behind only 0.99 million (4.7% of total supply) for mining.

What happens when all Bitcoins are mined?

Once all Bitcoins are mined by year 2140, there will be no new supply of Bitcoin. Potentially, this could bring about deflationary effects in the financial markets, driven primarily by supply and demand. By then, Bitcoin miners will earn revenue only through transaction fees as they will no longer receive rewards for mining new blocks of Bitcoin.

Does Ethereum have a similar halving mechanism?

Ethereum does not have a halving mechanism, although prior to the Ethereum Merge , it was using a proof of work (PoW) mechanism similar to Bitcoin.

Is Bitcoin a good investment?

As the supply of Bitcoin becomes more limited with every halving cycle, Bitcoin is commonly understood to have a deflationary effect as opposed to the traditional fiat currencies. However, it is important to remember that Bitcoin and the crypto market as a whole is always subject to extreme market conditions, legal policies, social media stories, and other unpredictable factors. As such, it is advisable to exercise risk management and do your own research (DYOR) before investing in Bitcoin.

How do I buy Bitcoin as a beginner in crypto?

You can buy Bitcoin via Gate.io by following the steps on how to buy BTC once you have funded your account. Further, the BTC price prediction may be helpful in your decision making process before buying Bitcoin.

Bitcoin Halving

When Is The Next Bitcoin Halving

Bitcoin Halving Countdown: When Is The Next Bitcoin Halving?

The most recent Bitcoin halving event occurred on April 20 2024. Bitcoin halvings typically occur approximately every four years, so the next halving is expected to take place around the year 2028.

892915

Current block height

157085

Remaining block supply

1050000

Next halving block height

0/0/0

Next halving event

Getting Started: What is Bitcoin halving?

Bitcoin halving relates to the reward for Bitcoin miners. When Bitcoin miners validate transactions on the blockchain, they receive a fixed quantity of Bitcoins in return. When 210,000 blocks are validated, the number of Bitcoins that miners receive will be reduced by half.

As Bitcoin halving reduces the rate at which the new supply of Bitcoin entering market circulation, it is believed to have a significant effect on the network as well as on the price of Bitcoin. The current price of Bitcoin (BTC) is $84928.2, which is also +1.10% in the last 24 hours, and +4.82% in the past 7 days. For more information, see Bitcoin price now.

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Historical Dates of Bitcoin Halving

In year 2008, Satoshi Nakamoto published the Bitcoin whitepaper “A Peer-to-Peer Electronic Cash System”, introducing the concept of Bitcoin for the first time. In the whitepaper, it is stipulated that Bitcoin halves as every 210,000 blocks are mined, until the whole supply of 21 million Bitcoins are mined.

First Bitcoin Halving

Bitcoin blocks mined: 210,000
Mining reward: From 50 BTC to 25 BTC
Price on halving day: $12.3
Peak price in this cycle: $1,175.0
Maximum bitcoin price increase in this cycle: 9552.85%

28 November 2012

Second Bitcoin Halving

Bitcoin blocks mined: 420,000
Mining reward: From 25 BTC to 12.5 BTC
Price on halving day: $648.1
Peak price in this cycle: $19,800.0
Maximum bitcoin price increase in this cycle: 3055.08%

9 July 2016

Third Bitcoin Halving

Bitcoin blocks mined: 630,000
Mining reward: From 12.5 BTC to 6.25 BTC
Price on halving day: $8,560.6
Peak price in this cycle: $ 67,775.3
Maximum bitcoin price increase in this cycle: 791.71%

5 May 2020

Fourth Bitcoin Halving

Bitcoin blocks mined: 840,000
Mining reward: From 6.25 BTC to 3.125 BTC
Price on halving day: To be announced
Peak price in this cycle: To be announced
Maximum bitcoin price increase in this cycle: To be announced

April 2024

Fifth Bitcoin Halving

Bitcoin blocks mined: 1,050,000
Mining reward: From 3.125 BTC to 1.526 BTC
Price on halving day: To be announced
Peak price in this cycle: To be announced

April 2028

The Impact: Bitcoin Halving Price Chart

Historically, Bitcoin halving has a strong correlation to the entire crypto bull market as a whole. Following each Bitcoin halving event, Bitcoin price has been showing significant rally in next 6-12 months, reached new all-time highs each cycle.

So what does this mean for you?

If you are an Investor

The halving reduces the mining reward per block, which leads to a slowdown in the fresh supply of Bitcoins. This can result in an increase in the price of Bitcoin, as well as the heightened trading activity of the crypto market as a whole.

If you are a Bitcoin Miner

As revenue generated from Bitcoin mining consists of block rewards and transaction fees, a halving in block rewards causes a drop in the income of Bitcoin miners, while the computational power for mining Bitcoin remains the same.

If you are a Spectator

Bitcoin halvings tend to be followed by a very bullish crypto market, triggering more noise in and out of the crypto community. It is likely that many will eye on the crypto market, and lots of FOMO tend to happen at this phase of the cycle.

Who Controls the Issuance of Bitcoin

There is no one controlling the issuance or supply of Bitcoin. Rather, the supply of Bitcoin follows a set of programming rules of the blockchain. These rules are:

The total supply of Bitcoin is fixed at 21 million only
The mining reward starts with 50 BTC per block mined
Block rewards will be halved with every 210,000 blocks
The same cycle repeats until all Bitcoin supply has been mined

The creator of Bitcoin, Satoshi Nakamoto, introduced Bitcoin halving to regulate its production to keep it deflationary, as opposed to fiat currencies. This is where the beauty of Bitcoin stands out against fiat, where central governments can print more supply of its currencies at will, causing inflation to the entire nation or in the case of USD, to the entire world.

Bitcoin Halving Schedule Timer: How is it Calculated?

The open-source code by Bitcoin Core Software derives when the next halving will happen based on the current size of the block reward, the number of halving cycles and by dividing the current block height by 210,000. If the current block height is 840,000, divided it by 210,000 and the answer is 4. After discarding the decimals, the code knows that we have had 4 halvings. From there, the code estimates that next halving will happen at block height of 1,050,000 which is approximately on 17 April 2028.

	  1  CAmount GetBlockSubsidy（int nHeight，const Consensus: :Params & consensusParams）
	  2  {
      3    int halvings = nHeight / consensusParams.nSubsidyHalvingInterval；
	  4    // Force block reward to zero when right shift is undefined.
      5    if （halvings >= 64）
	  6     return 0；
      7 
	  8    CAmount nSubsidy = 50 * COIN；
      9    // Subsidy is cut in half every 210,000 blocks which will occur approximate1
	  10    nSubsidy >>= halvings；
      11     return nSubsidy；
	  12  }

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Halving of Other Cryptocurrencies

Halving is commonly used to control the supply of cryptocurrencies, typically seen in blockchains employing Proof of Work (PoW) mechanisms, as well as forks of Bitcoin.

Bitcoin Cash (BCH)

This forked version of Bitcoin was created in August 2017 and uses the same halving mechanism as Bitcoin. However, difference in the BCH algorithm to stabilize block time resulted in slightly different halving times from Bitcoin. This explains why the first halving and second halving of BCH happened concurrently with BTC, but its third halving occurred a month earlier than BTC.

The current price of Bitcoin Cash (BCH) is $330.42, which is also +1.24% in the last 24 hours, and +10.17% in the past 7 days. For more information, see Bitcoin Cash price now.

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Bitcoin SV (BSV)

Bitcoin Satoshi Vision, also known as Bitcoin SV (BSV), is a forked chain created from Bitcoin Cash (BCH). As such, it is no surprise that BSV shares a lot of similarities with BCH. Just like BCH, the first halving and second halving of BSV occurred at the same time as BTC, but its third halving occurred about a month earlier, which was on 10 April 2020.

The current price of Bitcoin Satoshi Vision (BSV) is $28.16, which is also +1.95% in the last 24 hours, and +1.07% in the past 7 days. For more information, see Bitcoin SV price now.

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Ethereum Classic (ETC)

This forked version of Ethereum that uses a proof of work (PoW) mechanism similar to Bitcoin, with the only difference being its mining reward is reduced by 20% every 5 million blocks generated. This translates to an ETC reduction happening approximately every 2 years.

The current price of Ethereum Classic (ETC) is $15.078, which is also +1.87% in the last 24 hours, and +0.27% in the past 7 days. For more information, see Ethereum Classic price now.

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