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What is bitcoin halving?

Our opinions are always our own. Bitcoin halving is when the reward for mining bitcoins is cut in half. At the current rate that bitcoins are being produced, halvings happen about every four years. Bitcoin halving is part of a system designed to cap the total number of bitcoins at 21 million.

What is a bitcoin network?

The Bitcoin network is a decentralized, trustless, peer-to-peer network designed to securely send monetary value from one party to another in the form of bitcoin. This article provides an overview of Bitcoin’s technical structure including the blockchain, nodes, miners, and proof of work mining.

When did bitcoin halve?

For some context, consider Bitcoin's history. The first halving occurred on Nov. 28, 2012, when the price of a Bitcoin was a mere $12 – one year later, Bitcoin had skyrocketed to around $1,000. On July 9, 2016 the second halving took place – Bitcoin had fallen to $670 per coin by then, but it shot up to $2,550 by July 2017.

How much did bitcoin cost in 2017?

The price of Bitcoin fluctuated between $500 and $1,000 for a few months, and ultimately rose to around $20,000 by December 2017. Third halving: The third halving happened in May 2020, coinciding with another bull run for the cryptocurrency. At the time of this halving, Bitcoin traded at around $9,000.

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