As we have discussed in previous articles in bitcoin, the halving refers to the halving of the amount of bitcoins that are used as a reward of a created block and according to the established protocol every 210,000 mined blocks a halving comes.

This cyclical event will occur every 4 years. The first one occurred on November 28, 2012. The second one is about to occur today July 9, 2016, It happened today a few hours ago. In the unique halving precedent that we have so far the price was at $ 12.39. That price had stayed for the 2 previous months. A month later the price increase to $ 13.42 and six months later the price was $ 129.00 and then a year later it came to $ 1079.00.

For obvious reasons we cannot guarantee that halving is the only factor that influences the Bitcoin price. However it is very probable that their effect is quite strong especially in the following months after the event when the miners begin to sell their Bitcoins at a higher price because the reward of his work has been halved.

This price brings with it a chain of events that also affect speculators and exchange houses where sellers feel in confidence to demand more money for their bitcoins motivated by a possible increase in demand.

Here are some facts that we have about Bitcoin until today:

Total Outstanding Bitcoins: 15,749,700

Total undermine missing Bitcoins: 5,250,000

Bitcoin Current price: $ 661.08

Bitcoin’s in traffic price (Market capitalization):$ 10,411,811,676.00

Approximate generation of a new block time: 10 minutes.

Source: bitcoinblockhalf

Disclaimer: This press release is for informational purposes information does not constitute investment advice or an offer to invest. The views expressed in this article are those of the author and do not necessarily represent the views of infocoin, and should not be attributed to, Infocoin.

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