Bitcoin halving will be its tipping point moment

A historical overview of the Bitcoin halving events.

The Bitcoin halving is upon us.

Without wasting too much time, let’s run through what that means, and why this is a significant milestone for the overall Bitcoin narrative, and economic impact it could have on the Bitcoin price.

What is the Bitcoin Halving?

The Bitcoin halving refers to the reward that miners receive for successfully ‘solving a block.’ That is the reward for verifying the accuracy of the information that is published on the blockchain every 10 minutes is about to drop by half.

Given that new bitcoin are issued by the blockchain network every 10 minutes, this means that roughly 144 blocks are mined per day.

This event happens every four years, and this is the third halving event.

For the first four years of Bitcoin’s existence, the number of new bitcoins issued every 10 minutes was 50. Every four years, this number is cut in half.

In 2012, the number of new bitcoins issued every 10 minutes dropped from 50 bitcoins to 25. In 2016, it dropped from 25 to 12.5.

Now, in the 2020 halving, it will drop from 12.5 to 6.25.