Bitcoin Third Halving Cuts Rewards to 6.25 BTC
- Bitcoin
- Bull Runs
Bitcoin's third halving occurred on May 12, 2020, slashing block rewards from 12.5 BTC to 6.25 BTC per block. This event marked a significant reduction in new supply, historically tied to bullish price action as scarcity increases. Miners faced immediate revenue cuts, sparking debates on CT about mining profitability and network security. The halving set the stage for the epic 2020-2021 bull run that pushed BTC to new ATHs. CT celebrated with memes and predictions of 'moon soon' across timelines.