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12 Years Ago, on Nov, 28 2012 The First Bitcoin Halving cut Block Reward from 50 to 25 BTC (Bitcoin at $12.20)

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by COINS NEWS 3 Views

What a journey, right?

In the months after the first halving in 2012, the network hash rate and difficulty declined as less profitable miners turned off machines to reduce costs. However, by early 2013, Bitcoin kicked off its first major bull run, surging from $13 to ~ $1,000 by year's end. The fears of miner capitulations were proven largely unfounded. The network hummed along, and the Bitcoin community learned an early lesson: Halvings are bullish for the Bitcoin network and the price of Bitcoin. Total Bitcoin supply on Nov. 28, 2012: 10,500,000

Some more text to keep the bot happy.

The first Bitcoin halving sliced off the first 50% of the Bitcoin mining reward – from 50 to 25 Bitcoins per block. Back then, the impact of the halving was still not priced in. The community was watching anxiously, as the closing price on the halving day was $12.20.

source: https://coinmarketcap.com/academy/article/bitcoin-halvings-history-a-look-back-in-time

submitted by /u/WineMakerBg
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