Every 210,000 blocks, Bitcoin's block reward halves, reducing new supply by 50%. This analysis examines the historical impact of halvings on price action, adoption, and market cycles.
Total Supply
21,000,000
Fixed forever
Current Inflation
~0.92%
Post 4th halving
Avg Gain (All Cycles)
+4,368%
From halving price to cycle high
Next Halving
2028
Block ~840,000
| Halving | Date | Price @ Halving | Cycle High | Gain |
|---|---|---|---|---|
| 1st Halving | Nov 28, 2012 | $12.30 | $1,177 | 9,465% |
| 2nd Halving | Jul 9, 2016 | $650 | $19,891 | 2,950% |
| 3rd Halving | May 11, 2020 | $8,727 | $69,044 | 691% |
| 4th Halving | Apr 2024 | $63,400 | TBD (~2025) | In Progress |
Historically, Bitcoin sees significant gains 6-12 months BEFORE the halving event as speculators anticipate the supply shock.
After each halving, there's typically a "calm before the storm" period of 3-6 months before the main bull run begins.
Past performance does not guarantee future results. While Bitcoin's halving has historically preceded bull markets, external factors (regulation, macroeconomic conditions, technological changes) can alter outcomes. Always do your own research and never invest more than you can afford to lose.