Two Days Before The 2016 Halving Bitcoin Plunged 11%

Bitcoin Halving

The Bitcoin Halving is an event that takes place every 210,000 blocks or roughly every four years, where the number of Bitcoin awarded per block mined is cut in half. Over the last three months leading up to this halving, Bitcoin has experienced increasing levels of volatility. Just two days before the third halving in May 2020, Bitcoin experienced a 20% drop in price which was similar to the second halving in 2016 when BTC dropped 11% two days before.

History On Track In 2016 and 2020

Bitcoin underwent a halving event in May 2020, reducing the rewards miners receive for successfully completing a block by half. This halving event also had a large impact on the price of Bitcoin, as it halved the number of new Bitcoins that can come into circulation at any given time. As such, this created an increased demand for Bitcoin, resulting in its impressive surge to $10,000 earlier today before dipping below $8,000.

After a 20% dip in price, Bitcoin has since recovered to around $8,850 and analysts are expecting to see further upsides as we approach the halving date.


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