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The Upcoming Bitcoin Halving Event

If you currently invest in Bitcoin, then you know that the next major halving event is near. The next Bitcoin halving event is suspected to occur on or around April 20th, 2024, which is just around the corner.

But what is a Bitcoin halving event? And what does it mean for holders of the cryptocurrency? We have all that information and more in this article, so keep reading to find the answers.

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What is Bitcoin Halving?

Bitcoin halving refers to the process in which the rewards for Bitcoin miners are reduced. When Bitcoin was invented, the creator of the cryptocurrency wanted to create something which was deflationary, and in order to do so, he had to restrict the number of Bitcoins which could be mined.

The maximum ceiling for Bitcoin’s produced was placed at 21 million Bitcoins. In order to ensure this ceiling was maintained, Satoshi Nakamoto (Bitcoin’s creator) placed a reward or a price, that a Bitcoin block would pay miners when created. To ensure the mining process stopped, he set up Bitcoin so that for every 210,000 blocks mined, the reward for miners would be cut in half.

The initial reward for mining Bitcoin was 50 Bitcoin, and currently, it is 6.25. This is the number that will be cut in half this year, resulting in a reward of 3.125 Bitcoin per block mined.

Why is Bitcoin Halving Important?

Bitcoin halving is a process that ensures the deflationary aspect of Bitcoin. Following each of the past halvings, which occurred in 2012, 2016, and 2020, the value of Bitcoin increased tremendously the following year.

In fact, after the last halving event on May 11, 2020, Bitcoin jumped from $6,000 per coin to a whopping $55,847.24 the following year.

Will Miners Stop Mining Bitcoin After the Halving?

Generally speaking, it is likely that some miners may leave the market after a halving event. This usually happens because mining is no longer profitable in their area. But to be clear, there will still be plenty of individuals and businesses mining Bitcoin as long as it’s around.

One of the reasons we are confident about there still being plenty of miners is the same reason we are confident about Bitcoin rising in price. This is because the current mining reward, 6.25 Bitcoins, amounts to over $300,000 USD. So even when this is halved, it is still worth it for most miners to continue mining. (If Bitcoin were halved today, for example, the mining reward would still be over $150,000 for just mining a single block).

Notice how we said most. Of course, in certain locations where electricity is more expensive and graphic cards cost more, miners may exit, but we are confident that plenty of miners are still interested in mining the coin, especially if they, too, expect the value of Bitcoin to increase.

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Will Bitcoin Rise in Price?

Based on past prediction models of the previous three halvings, it is almost certain that Bitcoin will rise in price again. While we can’t absolutely say that it will, Bitcoin is based on supply and demand, and as the supply continues to decrease, economics says the price will increase.

Even if you don’t believe the halving event will increase the value of Bitcoin, there are several additional recent events that we believe will lead to a rise in price.

First of all, Bitcoin ETFs were approved by the SEC in January 2024. Not only does this mean many institutions are becoming more interested in Bitcoin, but personal investors are also becoming more interested. This alone has caused price spikes in the past few weeks, pulling Bitcoin out of its previous slump.

Additionally, the economy has taken a turn for the worst. Since Bitcoin’s inception, there has always been an increase in Bitcoin holding when economic conditions worsen, and we expect more and more individuals will choose to hold on to their investments instead of selling.

This is mostly because of Bitcoin’s deflationary prospects. When governments inflate money (causing inflation) and monetary hardships, individuals tend to gravitate toward assets that are deflationary. As far as we know, Bitcoin is one of the few deflationary assets.

If that wasn’t enough, Bitcoin is also increasing in adoption and use around the globe. Where there were once only a few places you could pay in Bitcoin, there are now entire countries that accept the currency. Plus, much infrastructure has been added in the USA and other developed countries to accept Bitcoin even though it hasn’t been officially adopted as a currency yet.

Related: Is an Economic Recession Coming in 2024?

Should You Buy Bitcoin?

Here at, we are under the impression that buying Bitcoin is always a good idea. No matter when you purchase it, there will likely be a time when you can sell it for more than you bought it for.

To be clear, we aren’t promising that Bitcoin will make you rich, but in the long run, we do believe it is somewhat profitable.

Of course, if you live in a country where Bitcoin isn’t allowed, such as China, we don’t recommend risking it by buying some. It is always better to be safe than sorry because if you are caught, then the government can seize your investment.

What Can You Do With Bitcoin?

We, above all else, recommend simply investing in Bitcoin as this has, over the years, been the best use for the currency. But, don’t think that you can’t do anything else, as you do have other options for using your Bitcoin.

Many online stores, such as CheapAir and (through, accept payment in Bitcoin, and while you can’t spend it directly at all stores, there are debit card companies that allow you to fund your account with crypto and pay anywhere their card is accepted.

Overall, there is never a bad time to get into Bitcoin, but there is also a good time to get into Bitcoin, which is before a halving event. While we can’t guarantee you will become rich overnight, Bitcoin is one of the few investments we recommend, and we are sure you will fare just fine.

Keep in mind, however, that Bitcoin is volatile and not guaranteed. Therefore, you should be prepared to lose any investment you place in the currency.

You May Also Enjoy: Bitcoin Adoption Expands in South America

Bitcoin | Bitcoin mining | Bitcoin halving | Deflation | Bitcoin ceiling | Buying bitcoin

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