CoinGecko: Bitcoin rose by 3,230% on average after each halving
CoinGecko analysts found that, on average, Bitcoin’s value skyrocketed following its previous halving cycles.
According to the report, after each mining reward was halved, the Bitcoin (BTC) 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 Bitcoin 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%.
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