When each halving happened, taken from the blockchain itself, and what bitcoin's price did around the last two, using real daily closes from the Bybit exchange. Line the cycles up day by day or test a buy and a sell around a halving, with trading costs.
| Halving | Block | Time (UTC) | Block subsidy | BTC close that day |
|---|---|---|---|---|
| 1 | 210,000 | Nov 28, 2012, 15:24:38 | 50 to 25 BTC | Before this data |
| 2 | 420,000 | Jul 9, 2016, 16:46:13 | 25 to 12.5 BTC | Before this data |
| 3 | 630,000 | May 11, 2020, 19:23:43 | 12.5 to 6.25 BTC | $8,567.50 |
| 4 | 840,000 | Apr 20, 2024, 00:09:27 | 6.25 to 3.125 BTC | $64,938.50 |
| 5 (next) | 1,050,000 | Estimated around April 2028 | 3.125 to 1.5625 BTC | - |
Point at the chart or tap it to read the values.
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Each new block pays the miner who found it a set number of new bitcoins. Bitcoin Core's source code starts that subsidy at 50 BTC, and the comment above the calculation says: "Subsidy is cut in half every 210,000 blocks which will occur approximately every 4 years." Bitcoin.org describes the effect: "The number of new bitcoins created each year is automatically halved over time until bitcoin issuance halts completely with a total of 21 million bitcoins in existence."
A halving is the block where the cut takes effect: 210,000, then 420,000, 630,000 and 840,000. The table shows the time stamp recorded in each of those blocks, read from two public block explorers, mempool.space and blockstream.info, which returned the same values.
Price history shows every daily close since November 14, 2018 on a log scale, with a dashed line on each halving day and a dot on the highest close within 1,000 days after it. Cycles side by side starts each line at 0% on its halving day and counts the days before and after, so both cycles can be compared at the same point. Point at the chart or tap it to read exact values.
The calculator buys at the close on a day you choose relative to each halving and sells after the holding period you pick. Each buy and sell pays a 0.1% fee plus 0.05% slippage, our assumption for a market order at the close, and the result also shows the worst drop from a high while the coin was held.
| Measure | Halving 3 (2020) | Halving 4 (2024) |
|---|---|---|
| Close on the halving day | $8,567.50 | $64,938.50 |
| 90 days later | +36.5% | +2.7% |
| 180 days later | +73.2% | +3.8% |
| 365 days later | +562.8% | +31.1% |
| 540 days later | +638.7% | +77.1% |
| 730 days later | +238.1% | +16.8% |
| Highest close within 1,000 days | $67,623.50, Nov 8, 2021, day 546 | $124,659.40, Oct 6, 2025, day 534 (so far) |
| Gain from halving day to that high | +689.3% | +92.0% |
| Lowest close after the high | $15,744.50, Nov 21, 2022 (-76.7%) | $58,514.60, Jun 30, 2026 (-53.1%, so far) |
| Change in the 365 days before the halving | +22.8% | +138.3% |
After the 2020 halving, bitcoin closed 562.8% higher a year later and peaked 546 days after the halving. It then lost 76.7% by November 2022. After the 2024 halving the gain a year later was 31.1%, the highest close so far came 534 days after the halving, and the price then fell 53.1% by June 30, 2026. The last day in this data, September 25, 2026, is day 888 of the fourth cycle.
The two peaks came 12 days apart in cycle time, which invites a rule. Two cycles are two data points, though, and they were not alike: bitcoin rose 22.8% in the year before the 2020 halving and 138.3% in the year before the 2024 one. Halvings also happen alongside everything else that moves the market, so a chart like this cannot separate the halving's effect from the rest. The maximum drawdown calculator explains how falls from a high are measured, and the time the market game shows how hard it is to act on a pattern in real time.
The fifth halving happens at block 1,050,000, when the subsidy drops from 3.125 to 1.5625 BTC. On September 26, 2026 the latest block was 968,625, which leaves 81,375 blocks. Bitcoin.org says new blocks are added "approximately every 10 minutes on average," which puts the halving about 565 days away, around April 13, 2028. Blocks since the 2024 halving have averaged 9.95 minutes, which gives almost the same answer, April 10, 2028. The real date depends on how quickly blocks arrive until then, so any date before the block is mined is an estimate.
Every price on this page is a real daily close of Bybit's BTCUSD inverse perpetual contract, downloaded with the open-source ccxt library and stored unchanged. That history starts on November 14, 2018, so the 2012 and 2016 halvings are listed with their blocks and times but without prices, instead of being filled in from another source. On the 1,909 days when both traded, the contract's close was within 0.5% of Bybit's BTC/USDT spot close on 99.8% of days.
The bitcoin rainbow chart fits a long-term trend to the same prices, and the bitcoin monthly returns heatmap breaks them down month by month.
Educational, not financial advice. The chart shows what already happened around two halvings. It does not predict what the next halving will do to the price or recommend buying or selling bitcoin.
At block 840,000, whose time stamp is April 20, 2024, 00:09:27 UTC. That was still April 19 in every US state. The block subsidy fell from 6.25 to 3.125 BTC.
At block 1,050,000. With 81,375 blocks left on September 26, 2026 and blocks arriving about every 10 minutes, that points to around April 2028. The exact day depends on how fast blocks are found until then.
Bitcoin Core counts the subsidy in satoshis, and one bitcoin is 100,000,000 of them, so the first subsidy was 5,000,000,000 satoshis. Each halving divides it by two and drops any fraction of a satoshi. After 32 halvings the subsidy is 1 satoshi, and the 33rd takes it to zero. Four have happened so far.
This data cannot show that. A year after the 2020 halving the close was 562.8% higher; a year after the 2024 halving it was 31.1% higher, and both cycles later fell by more than half from their highs. The halving cuts how many new coins are created, but the price also depends on how much people want to buy and sell.
Time zones. The block's time stamp is 00:09 UTC on April 20, 2024, which was still April 19 in every US state.
Yes. Each price is the close of a UTC day on Bybit's BTCUSD perpetual contract, downloaded with ccxt and stored without changes. The halving times come from the block data itself, not from news reports.