Halving & cycles
Fixed supply
Bitcoin's supply is capped at 21 million coins. New coins are created as a reward for miners, and about every four years (every 210,000 blocks) that reward is cut in half: the halving. Halvings happened in 2012, 2016, 2020 and 2024.
Cycles are a story, not a promise
Past halvings were followed by big rallies and then deep falls, so many traders talk about four-year cycles. But past patterns do not guarantee the future, and each cycle has been different.
Test yourself
What happens at a bitcoin halving?
The reward for mining new blocks is cut in halfFewer new coins are created after each halving.
What is bitcoin's maximum supply?
21 millionThe cap is built into the protocol.
Roughly how often does a halving happen?
Every four yearsEvery 210,000 blocks, about four years.
Past cycles after halvings…
Are a pattern traders watch, but not a guaranteeHistory is useful context, not a forecast.
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