I was agreeing with the fact that Bitcoin was going to double in price, not because of actual value being created but more because of herd investor psychology.
Point is, IMO, that those who invest in Bitcoin now are investing because they are hoping for further price increases; and since Bitcoin's fundamental problems have still remained unsolved I doubt very much this increasing price trend will continue much longer.
As they say, I don't have a crystal ball to tell the future... but this is what I think.
Topic: [2016-07-18] btcm.com| How Bitcoin's Second Halving Came and Went, and Not Much (Read 353 times)
July 18, 2016, 05:12:40 PM
July 18, 2016, 05:06:50 PM
I won't exactly say not much happened. Bitcoin was around $450 in March, now this is July and the price is around $660. The anticipation for the halving created a rise in price.
People were saying that the price would double at the time Bitcoin was being traded at around $300-$350 per coin. If you take that in mind, then these people are in fact right on the prediction that the price would double. All action happened before the block halving. That's why it may feel like nothing happened after the block halving.
July 18, 2016, 03:41:19 PM
I won't exactly say not much happened. Bitcoin was around $450 in March, now this is July and the price is around $660. The anticipation for the halving created a rise in price.
Yes, you are absolutely right! But the mainstream media overhyped about both side of price ( rise & fall ). I think the reporter point out that matter for cryptocurrency lovers!
Thank you for putting valid input!
July 18, 2016, 02:55:40 PM
I won't exactly say not much happened. Bitcoin was around $450 in March, now this is July and the price is around $660. The anticipation for the halving created a rise in price.
July 18, 2016, 02:12:57 PM
How Bitcoin's Second Halving Came and Went, and Not Much Happened
Bitcoin's block reward halved for the second time last week, from 25 to 12.5 bitcoins. The event, commonly referred to as “the halving” (or sometimes: “the halvening”), was a key moment in Bitcoin's history. Such halvings are scheduled to occur once in about every four years, and they ensure that no more than 21 million bitcoins will ever be in circulation....
https://bitcoinmagazine.com/articles/how-bitcoin-s-second-halving-came-and-went-and-not-much-happened-1468856719
Bitcoin's block reward halved for the second time last week, from 25 to 12.5 bitcoins. The event, commonly referred to as “the halving” (or sometimes: “the halvening”), was a key moment in Bitcoin's history. Such halvings are scheduled to occur once in about every four years, and they ensure that no more than 21 million bitcoins will ever be in circulation....
https://bitcoinmagazine.com/articles/how-bitcoin-s-second-halving-came-and-went-and-not-much-happened-1468856719
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