When Is the Next Bitcoin Halving in 2024?

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7 Mar 2024

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The next Bitcoin halving is expected to take place in April 2024.

It is difficult to predict the exact date as it depends on the block height. Since halving happens every 210,000 blocks, the next Bitcoin halving is expected to occur in April 2024 when the block height reaches 840,000.

Bitcoin Halving History

The mining reward started at 50 BTC per block when Bitcoin was released in 2009.

Since then, there have been three halvings. The first Bitcoin halving occurred in November 2012, reducing the mining reward from 50 to 25 BTC. The second halving in July 2016 cut it further to 12.5 BTC. In the third halving in May 2020, the reward was again halved to 6.25 BTC per block. These halvings are integral to Bitcoin's scarcity and inflation control, ensuring that the total supply will never exceed 21 million, aligning with its deflationary principles.

Will the Bitcoin Halving Increase BTC’s Price?

The positive sentiment surrounding Bitcoin Halving has historically been associated with price fluctuations, as some investors anticipate post-halving rally.

While historical patterns suggest Bitcoin prices generally increase after halving events, you should note that this trend is not guaranteed and Binance does not predict future price movements. Price trends will depend on the circumstances surrounding the 2024 Bitcoin Halving event including continued adoption and other factors influencing demand.

Below are the price surges BTC witnessed six months post halving:

First Halving

November 28, 2012
On the day of the halving, the price of Bitcoin was approximately $12. Six months later, around May 28, 2013, the price had risen significantly to about $130, showcasing a substantial increase.

Second Halving

July 9, 2016
The price of Bitcoin was around $660 on the day of the halving. Around January 9, 2017, the price increased to about $900, indicating a considerable growth in value over six months.

Third Halving

May 11, 2020
Bitcoin's price was approximately $8,600 on the day of the halving and it rose to over $15,700 six months later, around November 11, 2020.