Bitcoin Halvings and Market Cycles

Bitcoin Controlled Supply

Bitcoin are “minted” during the creation of each block at a fixed and diminishing rate. Each block, generated on average every 10 minutes, contains entirely new bitcoin, created from nothing. Every 210,000 blocks, or approximately every four years, the currency issuance rate is decreased by 50%. For the first four years of operation of the network, each block contained 50 new bitcoin. (Book: Mastering Bitcoin 2nd edition, page 215)

Genesis Block, block "0", January 3rd 2009

Reward Era #1
Subsidy per block= 50 Btc
Blocks {0 — 209999}
Btc added= 10,500,000 Btc

Halving 1 at block 210000, 28th November 2012

Reward Era #2
Subsidy per block= 25 Btc
Blocks {210000 — 419999}
Btc added= 5,250,000 Btc

Halving 2 at block 420000, 9th July 2016

Reward Era #3
Subsidy per block= 12.5 Btc
Blocks {420000 — 629999}
Btc added= 2,625,000 Btc

Halving 3 at block 630000, 11th May 2020

Reward Era #4
Subsidy per block= 6.25 Btc
Blocks {630000 — 839999}
Btc added= 1,312,500 Btc

Halving 4 at block 840000, ETA May 2024

Reward Era #5
Subsidy per block= 3.125 Btc
Blocks {840000 — 1049999}
Btc added= 656,250 Btc


Aníbal Santaella (@a_santaellas)

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Reward era # 1 - Halving 1

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Reward era # 2 - Halving 2

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Reward era # 3 - Halving 3