The question of when is Bitcoin halving 2020 has been on many investors’ minds for quite some time now. This big crypto event happens only every 4 years or so depending on how many blocks are mined. Because of this, it has had drastic adverse effects on the crypto pricing each time it happens. Cryptocurrency enthusiasts have been trying to anticipate how the Bitcoin will react once the halving event is completed. And while history can repeat itself, the current economy isn’t sitting as it has been at past halving events.
The Hash Rates and Mining of Bitcoin
For Bitcoin to reach its next halving, 210,000 blocks must be mined. The measurement of a Bitcoin miner’s performance is the hash rate or processing power on its network. In anticipation of the actual date to the big question when is Bitcoin halving 2020, hash rates continue to rise. Miners are essential to the exact day of the next upcoming Bitcoin halving. But with a wide variety of mining hardware, the hash rate can fluctuate from day to day.
But with built-in restrictions to limit how fast miners can create new blocks, the halving event is somewhat regulated. This was to prevent the halving from happening too soon in the market. As more mining power computes through the network, the process of solving the problems to mine a block becomes harder.
When is Bitcoin Halving 2020?
Since its launch in 2009, Bitcoin has dominated the cryptocurrency market. The first halving event occurred in November 2012, while the second one came in July 2016. So naturally the question when is Bitcoin halving 2020 has been on everyone’s mind for some time now. As the time draws closer, the predicted date is narrowed down to a more realistic guess.
As the day draws closer, the predictions of when is Bitcoin halving 2020 can be determined more effectively. At the time of writing, the date for the next big Bitcoin halving event is scheduled for May 11, 2020. Originally predicted sometime between May 11 and 18, this halving date gets bumped as blocks are furiously mined each day. One can determine that miners are impatient and can’t wait to see how this coin reacts once the day arrives.
The Price of Bitcoin Today
The price of Bitcoin at the time of writing was sitting at $9,956.60 USD. Examining historical data, the Bitcoin price fluctuates each time a halving event comes around. With only a few more days to go, investors are crossing their fingers on substantial price movement for this token. Many are hoping for increases, but investors are just glad that Bitcoin seems to have recovered from the Coronavirus crash.
At this time, it’s anyone’s guess how Bitcoin will react once the halving event is complete. Investors are hopeful for positive movement for this coin, but that will be determined after May 11, 2020. The only thing to do now is to wait and see how this crypto giant reacts on May 12, 2020.
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