Bitcoin

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CoinGecko analysts found that, on average, Bitcoin’s value skyrocketed following its previous halving cycles. 
According to <a href="https://www.coingecko.com/research/publications/bitcoin-halving-price-history" target="_blank" rel="noreferrer noopener">the report</a>, after each mining reward was halved, the Bitcoin (<a href="https://crypto.news/price/bitcoin/" target="_blank" rel="noreferrer noopener">BTC</a>) rate increased by an average of 3,230%. 
The first halving, dated Nov. 28, 2012, reduced the reward from 50 BTC to 25 BTC. Within 12 months of the halving, the asset’s value rose from $12 to $1,075. Over the year, the rate jumped by 8,858%. By January 2022, the inflation rate changed from 25.7% to 12%. 
The second halving occurred on July 9, 2016, when the reward for mining a block was reduced from 25 BTC to 12.5 BTC. The market reacted with another <a href="https://crypto.news/tag/bitcoin/" target="_blank" rel="noreferrer noopener">Bitcoin</a> rally, as the coin’s value increased by 294% over the year. BTC’s price increased from $650 to $2,560, and the inflation rate of the first cryptocurrency changed from 8.7% to 4.1%. 
 You might also like: <a href="https://crypto.news/bitcoins-halving-hype-whales-prepare-for-the-big-shift/"> Bitcoin’s halving hype: whales prepare for the big shift </a> 
The third <a href="https://crypto.news/tag/bitcoin-halving/" target="_blank" rel="noreferrer noopener">halving</a> occurred on May 11, 2020, as the block reward dropped to 6.25 BTC. Within a year of the 2020 halving, the value of Bitcoin increased by 540%. The BTC price jumped from $8,727 to $55,847. 
Bitcoin started the year strong, <a href="https://crypto.news/bitcoin-new-all-time-high-73000/" target="_blank" rel="noreferrer noopener">reaching</a> an all-time high of over $73,000, mainly due to the hype around spot Bitcoin <a href="https://crypto.news/tag/etf/" target="_blank" rel="noreferrer noopener">ETFs</a> and positive investor expectations. 
<blockquote class="wp-block-quote"> 
 “This has been fueled by a surge of optimism for the crypto asset. Among these, the successful launch of approved Bitcoin ETFs stands out. This milestone has been instrumental in elevating Bitcoin’s merit to a new high, contributing to the positive sentiment in the market.” 
</blockquote> 
As for the upcoming halving, its impact on the market depends on related factors, according to analysts. For further growth, Bitcoin must be fueled by high demand. 
 You might also like: <a href="https://crypto.news/bitcoin-miners-earned-record-before-halving/"> Bitcoin miners earned record $2b before halving </a>

CoinGecko: Bitcoin rose by 3,230% on average after each halving

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