Bitcoin Surged Over 300,000% Since First Halving Event 11 Years Ago, Fueling Anticipation for 2024 Milestone
• Bitcoin experienced its first halving event 11 years ago on November 28, 2012, when the miner reward was cut from 50 BTC to 25 BTC per block.
• At the time of the first halving, Bitcoin traded around $12. Today, it trades at $37,000 - a 308,200% increase.
• The halving mechanism helps counter inflation and maintain scarcity by periodically reducing the bitcoin mining reward.
• Historically, significant bitcoin price increases have followed halving events, like the 350% surge after the 2016 halving.
• The next halving is expected on April 17, 2024, with many anticipating further bitcoin price growth afterwards.