Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Bitcoin Forum => Topic started by: Paglamon on May 20, 2020, 03:04:30 PM
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On May 11,2020, the Bitcoin Halving 2020 took place when the reward to incentivize miners were reduced to 6.25 BTC from 12.5 BTC per block. Simple logic was followed this time halving too that- if the supply of BTC decreases but the demand remains almost the same, then the price of BTC will increase. And in case the demand will increase then the prices of BTC can significantly move to attract fresh investments too. But this time, the situation is a bit different from the other two events majorly due to the impacts of COVID-19 all across the globe and a few other factors.
What do you think?
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Bitcoin should be able to increase after halving occurs but the condition of the virus outbreak disturbs all activities of people to work and make money. They are more concerned with saving real money to survive when conditions like this
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No one expected that corona virus will become pandemic. The virus threatening the entire people all over the world. It seems we are inside of a nightmare. Hard to believe that this things is happening caused to the death of innocent people, shutdown of establishments, and many more. I think people now is not focusing to btc rather safetiness and everyone's family security. When the right time that this pandemic will dissolve, we might live normally again.
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Unfortunately, there is a pandemic in Bitcoin halving 2020. But it seems not to bring too bad effect, we still saw some good increases in Bitcoin price in the last few weeks. But to see a very significant rise, it needs time and shouldn't happen suddenly. Most people predict it will happen in the next year.
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Bitcoin should be able to increase after halving occurs but the condition of the virus outbreak disturbs all activities of people to work and make money. They are more concerned with saving real money to survive when conditions like this
Usually, in the first months after a reduction in the remuneration of miners by half, the price of bitcoin drops due to disruption of the activity of miners, many of which quit their activities or rebuild their capacities. After the cryptocurrency market adjusts itself, the price of bitcoin increases significantly throughout the year. This time we do not see a drop in the price of bitcoin, and the spread of coronavirus is unlikely to have an effect here. Most likely, the influence of the approaching global economic crisis is already observed here. People are previously interested in bitcoin as an anti-inflationary financial tool.
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Covid 19's influence on the crypto market is huge among those who are in decline and more people want to sell or secure their money to survive. At present the crypto market is surviving in times of crisis occurring throughout the world
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Indodax's crypto asset buying and selling platform CEO Oscar Darmawan said the price of the bitcoin cryptocurrency was predicted to rise.
In fact, according to Oscar, the increase in the price of bitcoin does not only happen gradually, but also in the long run.
This is the impact of the corona virus, which has triggered an increase in investment interest in crypto assets. On Thursday (4/23/2020) afternoon, the price of bitcoin was observed to rise to Rp 110 million.