Countdown to the BTC HALVING 2020
The expectation is in the environment, everyone synchronizes their clocks to see what will happen after May 2020. The most anticipated event for crypto lovers is coming, no matter if you are a large or small investor, if you have thousands of dollars invested or Only a few, even if you have not been able to invest but have heard about this event, you are probably wondering what will happen after the BTC HALVING 2020.
At this moment there is a lot of speculation regarding the issue and very high expectations that the price of Bitcoin will be triggered and reach in the future from $ 100,000, up to $ 400,000 according to some predictions, this surely makes the one who has BTC in his portfolio not If you want to get rid of this digital asset so easily, you just have to wait to see what impact this event has on the price of the BTC and consequently the rest of the cryptocurrencies.
What is the BTC HALVING?
To understand a little more about what we are talking about, it is necessary to explain briefly what this event is about.
Halving is an event in which the block reward of a cryptocurrency is divided in half in order to reduce its emission level, it is an automated process of halving the bitcoins that miners receive as a reward for block creation
Currently, the miners receive for each mine block the amount of 12.5 BTC, after this event the reward will be reduced to 6.25 for each block
Due to this event there is a deflationary effect, and he expects that it will result in the increase in the price of Bitcoin, as a result of a maximum in economy that says an increasingly scarce asset with an increasingly growing demand is destined to rise of value, that raises expectations for BTC holders and makes them hopeful that the price will rise very high.
Background of the event.
Many of the bitcoin holders take as a basis to be optimistic, what happened in the previous halving, since they influenced in a positive way, starting an upward trend in prices.
According to the records in the first halving recorded in 2012, that same year began with the price of bitcoin around $ 5, reaching $ 12 at the end of the year, to close 2013 above $ 700, exceeding $ 1,000 at times, according to data from Buy Bitcoin Worldwide.
For the second halving something similar happened, the price of bitcoin started in 2016 above $ 400, when the event (halving) took place in July 2016 the value was about $ 650. Then it approached $ 1,000 again At the end of the year and in July 2017, it was around $ 2,500. At the end of that year came the biggest bullish career in the cryptocurrency market, with bitcoin approaching USD 20,000.
What to expect?
The clock of some websites specialized in cryptocurrencies, have already set the approximate time in which the HALVING 2020 can occur, according to their calculations we are less than 80 days for the most expected cryptographic event of the year to take place.
To be honest I don't know what to expect, I remain optimistic that BTC has an important rebound in its price and positively affects the rest of the cryptocurrencies including our appreciated STEEM.
Thank you friends, I will be happy to read your opinion on this topic, and answer all your comments.
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The article is excellent, it really stimulates reading, due to its simplicity in the way you manage to understand everything that you have expressed.
Certainly as you say, if the BTC is in high demand and with the reduction by half as you mention it will probably drive prices up.
If this scenario is true, it will encourage me to continue to leave my savings in steem, because if the btc increases, the price of our appreciated steem will most likely rise, which by the way, has again experienced downward trends in terms of price. Greetings friend and thank you for sharing your knowledge in cryptology with the entire steem community.
Hello friend @carlos84, thank you for your kind words, encourage me to keep trying.
Friend, it is what we are waiting for, we cannot say that things will happen as some predict, but if this halving has the positive effect that we are waiting for, then it is possible that it positively affects STEEM.
Thank you for reading!
Because of the effect of halving in yesteryears, one might predict an appreciable increase in its price even though i believe it will not be much as speculated by crypto pundits.
I'm not sure why so many people are hoping that history will repeat itself again. Especially considering that markets are being hammered lately and fear is spreading between investors. Halving may reduce selling pressure, it may kill some mining businesses - but it will not increase demand.
It is a real risk situation for some mining companies, but the "experts" speculators say that a major price escalation can happen and this can make many people want to invest at this time to make a profit with that escalation.
Friend @kebieri123, I think they are not the same conditions, today we have more people aware of cryptography unlike 2017, I do not know if this will be for or against. Everything up to this moment is uncertain. Hopefully the price rises.
I don't think history repeats itself. (seldom does) If all are waiting for a price jump the contrary can happen. Now, all are buying. After the fork, all selling. Price down.
I absolutely agree with you @deathcross
I'm not sure why so many people are hoping that history will repeat itself again. Especially considering that markets are being hammered lately and fear is spreading between investors. Halving may reduce selling pressure, it may kill some mining businesses - but it will not increase demand.
I think what you say is reasonable, it seems difficult that what happened before is repeated, more at the levels that some speculate $ 400,000, crazy.
Maybe Bitcoin surges to 400,000 in a couple of years, but for other reasons. Halving only effects the supply side. Suck a jump would need also a very strong demand.
It's coming
Indeed @yonilkar
ps. I'm glad to see that you're still around. Mostly you're into games ?
Yes, I play @splinterlands a lot
Nice article. Thanks for sharing.
The deflationary effect of halving is important as with less supply of Bitcoin flowing into exchanges from the miners, the obvious impact will be upwards pressure on price. Speculation will also drive the price higher.
Last time in 2017, when FOMO kicked in and the price went parabolic, we had a much lower starting point. So there is a real possibility of new ATH this time around.
However, nothing is certain. World events may impact Bitcoin price in unimaginable ways.
Solid comment @awah
Personally I don't think 2017 can be repeated any more. I wonder why people still put so much hopes into this halving.
What I think as a community we need to concentrate on are usability and utility. If cryptocurrency is not easy to use and has value in being used, then the masses won't come on board. At the moment, the cryptocurrency community excitedly talk to other cryptocurrency community members about how great cryptocurrency is (sounds likes an extract from the Simpsons). We are just convincing ourselves about how great the technology is but really we need to be pushing wider adoption. That is what will drive price in a sustainable way rather than speculation around halving.
Thx for this prompt reply. I'm glad to see how responsive you are @awah
Cheers ,Piotr
Hello my dear @awah, thanks for your valuable comment.
Correct, there are many things at this time that are only speculations, we must take into account that the conditions are not the same as the previous halving ones and although it does not look like the coronavirus is having effects on the world economy, I am not sure if it will also affect cryptography .
Coronavirus is obviously a big unknown for all of us. It could drive better adoption if it is seen as a safe bet over failing government-backed fiat. However, to me that is secondary. We all need to stay safe, make sure everyone stays informed and look after those in our communities.
After every halving event btc price surges and hopefully this time history will repeat it and we will see new highs in btc and as well as in steem also
Friend, it has happened other times and this is what makes us presume that prices will rise, I don't know if in the amount that some predict, but I think it can affect something.
Dear @fucho80
I'm also very curious what will happen after may 2020. However I wouldn't really expect any serious change and probably price movement will be determined by either hype or FUD.
The fact that miners will start receiving less rewards may reduce selling pressure (will it?) but surely it doesn't mean that buying pressure will increase.
All those predictions are worthless since they were all made before corona virus became a real problem. It's a huge black swan - the biggest in our lifetime. And it's already crashing world economy. And that will cause uncertainty. Some investors will move their resources into assets like gold, silver and perhaps crypto. But will it be enough to make a difference? Can BTC reach levels of 100$?
I hardly doubt so. On the way to such a high level we would witness enormous amount of investors taking the profits and moving to other assets. BTC worth 100$ would be considered a huge bubble and to get there we would need more hype and less fear. And right now fear is very visible.
So again: I don't expect much of a difference after halving. Not this year. Perhaps short term hype and then ... taking the profits.
I would definetly expect that many miners will go bankrupt.
Solid read. Upvoted already,
Yours, Piotr
Friend @crypto.piotr, thanks for being here.
Once again you make a very focused and coherent analysis of the situation. It is true that the effects on the world economy because of the coronavirus are being felt and that the scenario and conditions are not the same as in the past when the previous reductions happened and all of that has a direct impact on the final result.
I'm also curious to know what happens after this.
I think it will definitely influence prices, but not in the way some predict, that's crazy.
Just wait.
I just realized that I never actually thanked you for your comment. Big thx.
Cheers, Piotr
Ok friend, we are here to support you.
I think I remember that in the last halving the price of Bitcoin was rising, until it reached its historical peak, although then it fell after a few days, the truth is that it did not fall below the price it had before halving. So I think you can be optimistic about the price increase and that can drag other cryptocurrencies upside.
It is difficult to know what will happen, it is best to be optimistic and be prepared for the worst. The rest are speculations.