Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Bitcoin Forum => Topic started by: jackleeking12 on April 01, 2020, 11:06:56 AM
-
Bitcoin Halving is an event where the number of Bitcoin rewards generated per block is halved (divided by 2). The total amount of Bitcoin mined by miners per block will decrease from 12.5 to 6.25 BTC in the next half of Bitcoin. This means that after the event, Bitcoin miners will be rewarded with 6.25 BTC, which makes the supply of BTC less and less.
When Satoshi Nakamoto created bitcoin, he wanted to create a system that would maintain itself and in some way simulate gold mining. Over time, mining will become more difficult and rewards will gradually decrease to control the supply. :) :) :) :) :)
-
Halving the reward to miners for every new block of bitcoins mined will in any case contribute to the growth of the cryptocurrency market. So far, the spread of coronavirus has negatively affected all markets, including cryptocurrency. However, with the onset of the global economic crisis, the situation should change. A decentralized cryptocurrency in a crisis should already work as an anti-inflationary financial tool. There will be more stimulants for the growth of the cryptocurrency market and they will be more powerful.
-
Even now it’s clear that the manipulators can easily raise the price of bitcoin to any heights, so if the manipulators will want to pump bitcoin price, they can easily raise the price before bitcoin halving, but no one knows the plans of manipulators.
-
Reduced amount of bitcoin will increase price and demand. This is true if market conditions are good or economic conditions are stable. But when there is an outbreak like this, will it take effect when halving occurs?
-
Halving the reward to miners by half for each new mined block that should happen in May, traditionally should increase the price of bitcoin and the entire cryptocurrency market. We also hope that if a global economic crisis is approaching, then people will invest in cryptocurrency to avoid the inflation of conventional currencies and, due to an increase in demand, it will increase in value. Most likely, the economic crisis will nevertheless come and for the first time we will be able to observe how the cryptocurrency will behave at that time. This year there are many reasons for the further rise in prices in the cryptocurrency market.
-
History of Bitcoin shows that the halving approach always made the price go up. Many traders consider buying the tokens to sell them after the halving. The disasters around the world could have made bitcoin price rise, but the market is quiet.
-
Dump in short term, and will pump in long term, due to the incentive of mining
-
What about the long-term though?
-
people say bitcoin will increase after halving. I can't be certain of that because the current market is very difficult to predict. My estimate in May the price of bitcoin will begin to increase until halving occurs