Approximately every 4 years the reward that miners receive for finding a block, halves. This event is referred to as the “Bitcoin halving” and was hardcoded by Satoshi Nakamoto into the Bitcoin protocol to enforce its deflationary monetary policy.
In the 2020 Bitcoin halving mining rewards will drop from 12.5 Bitcoins per block, to 6.25 Bitcoins per block.
At the time of the 2020 halving, 18,375,000 Bitcoins will have been mined in total. That’s approximately 85% of the total Bitcoin supply.
What will the Bitcoin price be at the halving?
Right after the first halving in 2012, the Bitcoin price rose from $12 to $140. Weeks after the second halving in 2016, Bitcoin started a rally that propelled its price from $582 to $20,000.