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Historical Price of Bitcoin – Bitcoin to USD Charts

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Bitcoin halving history chart takes into account the supply cuts BTC had throughout its existence. BTC halving is a situation in which BTC’s awards to miners get cut in half. The main aim of the halving is to prolong the supply of coins since Bitcoin’s overall reserves are limited to 21 million coins. So far, 17.8 million are already in circulation.

Using the data from Bitcoin halving history chart below, it is evident that halving does have an impact on BTC. However, the impact itself may not signify large price surges. Nevertheless, it is important for traders to understand that incoming halving date within mid-2020 can have an impact on BTC’s price. The chart below shows just how much of an effect does halving have on the crypto.

1st Bitcoin Halving in 2011

The first supply cut or bitcoin halving occurred on November 28th, 2011. Back then, the market support just started to gather strength, as seen from the trading volume chart in the previous section. Thus, most of the market (well, miners really) supplied themselves with coins, waiting for the halving to occur. Graph below shows how the price initially declined before the halving took place.

Bitcoin Price History Chart 2011-2012 First Halving

Bitcoin Price History Chart 2011-2012 First Halving

Image Source: BuyBitcoinWorldwide

  • Red Line- price trend before BTC halving
  • Green Line – price trend after BTC halving

The price declined from $8 (beginning of Sep 2011) to $2.55 when halving happened. The block award reduced the amount of bitcoins miners get from 50 BTC to 25 BTC. The price, however, did rise up to almost $7 by the beginning of January, then slipped back into the $4-$5 range until mid-2012.

The moral of the story is that the market was small enough to prepare for the halving. Thus, on itself, it did have a very limited amount of impact. The price declined from $8 (pre-halving) down to $5 (post-halving) range.

2nd Bitcoin Halving in 2016

On September 9th, 2016, 2nd Bitcoin halving occurred, driving the price up from $650 to $950 by the end of the year. This time, the market is much bigger than in 2011, growing in terms of trade platforms’ number and daily trade volume. Thus, the price decline prior to the halving was less sharp. BTC value fell from $760 at June to $650 at the day of block award size cut.

Bitcoin Price History Chart 2016 2nd Halving

Bitcoin Price History Chart 2016 2nd Halving

Image Source: BuyBitcoinWorldwide

·         Red Line- price trend before BTC halving

·         Green Line – price trend after BTC halving

The overall supply of bitcoins per block decreases by half, with the latest example of rewards going down from 25 BTC to 12.5 BTC. The price recovery took several months to reach $760 level, surpassing it by mid-December. Then, it continued onwards towards $950 and beyond at the end of 2016.

Analyzing both cases, it seems that halving did not have a large influence on the Bitcoin’s price. However, we do need to take into account that pre-2016 were years of low market support, especially if compared to today’s trading volume. Thus, the 3rd halving, set to occur in 2020, would have a different impact on the BTC market.

Source: https://www.cryptocointrade.com/crypto-trading-blog/bitcoin-price-chart-history/?utm_source=rss&utm_medium=rss&utm_campaign=bitcoin-price-chart-history

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