Experts believe that due to the growth of the hashrate of the network, they are shifting to earlier ones

Analysts at The Tie call the possible timing of the next BTC halving

12.09.2022 - 09:35

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What’s new? Analysts at The Tie have published a tweet with the possible date of the next bitcoin halving. According to them, given the rise of the network’s hashrate to all-time highs, the date of the halving moves from 2024 to the fourth quarter of 2023.

Halving is bitcoin’s code embedded cut in half of the reward to miners for a mined block on the blockchain. Initially, miners received 50 BTC, this was reduced to 25 coins on November 28, 2012, to 12,5 coins on July 9, 2016, and to 6,25 coins on May 11, 2020. The next reward reduction to 3,125 BTC is expected in 2024 on block number 840 000.

On August 31, the bitcoin network recorded a 9,26% increase in difficulty, to 30,98 T. At the time of writing the news (September 12, 09:15 UTC), the bitcoin hashrate is 231,53 EH/s and the difficulty is the same 30,98 T as it was at the end of August. The asset has gained 2,71% in the past 24 hours, with BTC trading at $22 249, according to Binance.

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