Halving events are one of the most important processes in Bitcoin’s network. They take place when 210,000 Bitcoins are mined, which history told us that it takes around 4 years. If you are familiar with how they work and when they take place, your chances of making a profit can be increased by a lot, which is why we wanted to take a look at them.
We are going to explain everything there is to know about these events – how many halvings we experienced so far, how can they help you maximize your profits, and what are the next scheduled events for the future, etc. Let’s dive into the details.
Total Number of Halvings so Far
As of 2021, there have been a total of 3 halving events. The first halving event took place 4 years after Bitcoin was established. It took place in mid-2012. The second halving event was held in 2016, while the third and final one (so far) was held in May 2020.
They Often Lead to Price Surges
The reason why they can help you maximize your profits is that they often lead to peaks in the value of this cryptocurrency. Why? During halving events, mining Bitcoins becomes extremely hard. So, miners struggle to earn Bitcoins and it takes a lot more time than usual to get them. Hence, the circulation is lowered.
Due to the fact that the number of Bitcoins becomes very limited, their price starts to go up and usually peaks a year and a half after the halving events end. All of the aforementioned halving events that took place always led to price surges. In 2014, Bitcoin peaked at $713, in late-2017 Bitcoin peaked at over $19,000, and at the moment Bitcoin is valued between $50,000 and $60,000. Not only that, but experts believe that it will rise as high as $100,000.
And to make things even better, when traders use the services at reputable trading sites such as the News Spy app, they are provided with an AI system that scans the market and makes accurate predictions on Bitcoin’s future fluctuations. This AI system collects the data and is able to analyze it in a very detailed manner. That is why trading platforms such as the one we just mentioned have a high profitability rate.
All traders who got to know how halving events work and used these advanced services managed to become wealthy in a very short period. Some research even stated that the world may contain as many as 100,000 millionaires that amassed their wealth by trading with this cryptocurrency, which is quite a mesmerizing fact.
Future Halving Events
Now that we know what is the purpose of halving events and how many we’ve had so far, it is time to take a look at the future. So far, a total of 3 future halving events are scheduled to take place. The first one will be in 2024, then we’ll have another in 2028, and the last one will take place in 2032.
An interesting fact about the halving event of 2032 is that some research showed that by then, 99% of all Bitcoins will be mined.
When Will All Bitcoins Be Mined?
While 99% of the Bitcoins will be mined by 2032, the good news is that it will take a long time for the rest 1% to be mined. Experts have stated that the year in which 100% of Bitcoins will be mined is 2140. That means that you have plenty of time to get familiar with how mining works and use the process to make a profit with Bitcoin.
