Taking a look at all halving events in Bitcoin’s history
Bitcoin trading has become the main occupation of many people around the world. They are well aware of the fact that they can make a massive fortune by selling Bitcoins, so they are more than open to joining the network. Reports have shown that there are around 5 million people in Bitcoin’s network and thousands more are joining with each passing day.
One of the biggest factors that influence the value of Bitcoin is halving events. That is exactly the topic that we wanted to discuss in this article. We are going to take a look at halving events, see what is their purpose and how many of them occurred over the years.
2012 – First Halving Event
First off, halving events take place approximately every 4 years. The circulation of Bitcoins is cut drastically while they last with the purpose to control their flow into the network and make sure that there aren’t too many or not enough Bitcoins available. Each halving event so far has led to a massive spike in the value of this cryptocurrency.
The first halving event in Bitcoin’s history took place in mid-2012. Exactly a year and a half after the halving event ended, Bitcoin spiked in value in January 2014. During its peak, the price for 1 Bitcoin was $713. But, after US authorities raided several locations, many Bitcoins were seized and the price plunged.
2016 – Second Halving Event
The second halving event took place in mid-2016. During this time, Bitcoin managed to become extremely popular and many people joined its network. Not only that, but many reputable trading sites such as Yuan Pay Group started offering advanced services to the people and made the process of profiting with Bitcoin easier.
Platforms like the one we just mentioned use advanced AI systems that analyze the market and make accurate predictions on Bitcoin’s future fluctuations. The results are shared with the traders who know when is the best time to sell their Bitcoins and maximize their profits.
After the halving event in mid-2016 ended, many new traders joined the network and managed to help Bitcoin write history. On December 27, exactly a year and a half after the halving event ended, Bitcoin peaked at over $19,000. But, since the market was overflown, the cryptocurrency plunged after a few days.
2020 – Last Halving Event
The last halving event took place in May 2020. Around a year after the halving event ended, Bitcoin peaked at over $50,000, a record-breaking value. Not only that, but this time Bitcoin managed to remain stable for a few months.
Experts even believe that Bitcoin is yet to reach its peak this time. As you may have noticed, it took Bitcoin approximately a year and a half after the halving events ended to reach a max price. Considering the fact that it has been just a year after the last halving event, experts predict that Bitcoin will peak in autumn of this year.
What About the Future?
As for its future, it is hard to determine what it holds for Bitcoin. These days, Bitcoin remains an outlaw cryptocurrency, even though it is used by many people and many global brands even accept it as a payment method.
Its biggest advantage is the fact that it is self-sustainable and highly decentralized. That is also the reason why governments and banks around the world deem it illegal. The fact that they cannot control Bitcoin is what scares them and it is the reason why they invest so many funds into keeping it illegal. Considering the fact that its network keeps growing, we are excited to see how will it be treated in the future.
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