halving doesn't make bitcoin "more scarce", bitcoin is already as scarce as it gets. halving only slows down the production rate.
as for the price rise there are two part about it. the hyped up part that happens mostly before the halving and causes a big jump in price which could be to $20k this time and there is a more reasonable rise after the halving that would be due to less sell pressure on the market as the fresh coins that are being sold on the market would be reduced by 50% while demand keeps increasing. reaching a price such as $400k is easy.
Topic: 100 Days Left before Bitcoin to be more Scarce - page 4. (Read 671 times)
There are two sides of the halving. While many are hyping up around the anticipation that it would peak once more, miners on the other hand are planning on quitting being a miner because their profit is effectively reduced by 50%.
The price increases because of FOMO, and investors don't want to get left behind because they all expect the halving would increase the price. Thus, we see a bullish run every halving, a combination of hype and demand-supply idea.
The price increases because of FOMO, and investors don't want to get left behind because they all expect the halving would increase the price. Thus, we see a bullish run every halving, a combination of hype and demand-supply idea.
It's trading at ~9.4K as we speak, so the halvening might spur its growth even more.
Looking forward to it.
There are two sides of the halving. While many are hyping up around the anticipation that it would peak once more, miners on the other hand are planning on quitting being a miner because their profit is effectively reduced by 50%.
The price increases because of FOMO, and investors don't want to get left behind because they all expect the halving would increase the price. Thus, we see a bullish run every halving, a combination of hype and demand-supply idea.
The price increases because of FOMO, and investors don't want to get left behind because they all expect the halving would increase the price. Thus, we see a bullish run every halving, a combination of hype and demand-supply idea.
It is expected that in May 12 2020, the most anticipated event will happen to bitcoin. That is the Bitcoin halving that occurs approximately every 4 years. We just need to wait 100 days starting from now, before this event happens and allot of people will anticipate about the great market value increasing because of the bitcoin mining reward halving.
But why does many people expect this way?
IMO, right now that bitcoin is still achievable to be accumulated at lower price, I don't think we don't have the reason to take advantage of it even though it settled at $9,000 this week, I consider our status to still be called "early adopters of bitcoin".
Think about the system of bitcoin:
No wonder, that we have been given a 10 year service with these characteristics. Yet, we aren't putting our trust to BTC. So if we really believe in Bitcoin, 100 days is nothing but a number for us to buy starting now, and to lead the way of cryptocurrency enthusiasts making bitcoin as the worlds valuable currency in the world.
For Reference, see link here
But why does many people expect this way?
- First, the reason why market price of bitcoin will increase relies on the basic principle of demand and supply. Since the reward for miners will be cut in half, they might sell at higher price, driving the worlds market price of bitcoin to soar way up high.
- And other reason is because of the volatility of bitcoin that could be easily impacted because of this event. Bitcoin is known to be bullish anytime, even with just understanding its graph if it is overbought or oversold. Price could be driven very fast because of this reason, what more if a very big event that is anticipated by many becomes closer to happen.
There are also some speculations that bitcoin could achieve up to $400,000 as the demand for bitcoin increases.
IMO, right now that bitcoin is still achievable to be accumulated at lower price, I don't think we don't have the reason to take advantage of it even though it settled at $9,000 this week, I consider our status to still be called "early adopters of bitcoin".
Think about the system of bitcoin:
- Its protocol is consistent
- Still Decentralized
- Still Volatile
- And still limited to 21 Million Supply
No wonder, that we have been given a 10 year service with these characteristics. Yet, we aren't putting our trust to BTC. So if we really believe in Bitcoin, 100 days is nothing but a number for us to buy starting now, and to lead the way of cryptocurrency enthusiasts making bitcoin as the worlds valuable currency in the world.
For Reference, see link here
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