Bitcoin ($ BTC) reached 630,000 blocks at 7:23pm on May 11, 2020 (UTC time) and reached the halving.
Halving refers to the period in which the amount of tokens paid as a reward for blockchain maintenance activity “mining” is halved.
The reward for generating one block has been reduced from 12.5 BTC to 6.25 BTC. BTC is halved every 210,000 blocks, with the first half-life in November 2012 and the third halving this time.
AntPool mined 630,000th block. As you can see from the image below, the mining reward is 6.25 BTC.
Cryptocurrency tends to increase in scarcity and price by the halving of the cryptocurrency. As a result, the value of a currency around its halving is higher.
The BTC, which has reached its halving this time, has dropped significantly to $3,600 on March 12, and the BTC has fully returned the price in about two months. And on May 7, just before the halving, the price reached $10,000.
Just before reaching the halving, the movement of the Bitcoin market was very volatile, with a high price of $9,100 and a low price of around $8,150.
Also, the halving that tends to be focused only on the price, but this time the halving of BTC has been a big topic around the world.
For example, in the program of business news media CNBC, Paul Tudor Jones of the United States who runs his own hedge fund commented that he owns more than 1% of his assets in bitcoin, Expectations are rising for the price movement of Bitcoin after the halving.
According to Reuters, Ryan Watkins of Messari dealing with data of crypto assets shows negative attitude that price increase will be blocked by the impact of corona, while Co-Founder Jake Yocompiat of cryptocurrency Dikred commented that it will boost the price increase in the halving of crypto assets.
Furthermore, it can be seen that Bitcoin Magazine has received a lot of attention around the world, including a 21-hour live broadcast live stream commemorating the halving of Bitcoin.
Although BTC has reached its halving and is receiving more and more attention, it will have more attention in the future.