Bitcoin's halving occurs roughly every four years, when the block subsidy paid to miners is cut by 50%. It is written into the protocol and is what makes the supply schedule fixed and knowable in advance, converging on a maximum of 21 million coins. Several other proof-of-work chains adopted the same mechanism.
Its market significance is debated precisely because it is predictable — an event known years ahead should already be reflected in the price. What is not debatable is the effect on miners: revenue halves overnight while costs do not, which forces less efficient operations offline and concentrates hash rate among the rest until difficulty adjusts.
Does the halving cause the price to rise?
Past cycles saw rallies in the following year, but the sample is three events and the date is known in advance, so any effect should already be priced. Attributing the move to the halving alone is not supportable.
Last updated October 17, 2026