BTC halving and miner sell price | Bitcointalksearch.org

arinalwa

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Quote from: exstasie on October 06, 2018, 01:33:12 PM

People always say the last two halvings caused rallies, but if you look at the timing, it's not true at all. In markets, we don't talk about "catalysts" triggering moves a year later.

In fact, shortly after the 2016 halving, price dropped by 32% over the course of a few weeks! Roll Eyes

It would be more accurate to say Bitcoin is simply in a long term uptrend. In fact, since everyone expects upside when the halving occurs, I would expect either downside or sideways. If the crowd is heavily long, price will usually drop. Any successful trader knows the crowd is usually wrong.

Bitcoin mining is one thing but another is we need to take a look at what happened with the gpu miners. Look at all those graphic cards that were out of stock just couple months ago, now they are cheaper than the market price on places like ebay which means miners are selling their machines because they are not making as much money.

Same could happen to bitcoin, miners of ethereum couldn't stop ethereum dropping under the price that miners would make profit, why do you believe people who mine bitcoin could stop the price from going below the cost of mining? I think it could happen because bitcoin miners are bigger corporations whereas gpu miners are individuals but its still a risk.

exstasie

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Quote from: sana54210 on October 10, 2018, 01:21:40 AM

Quote from: exstasie on October 06, 2018, 01:33:12 PM

People always say the last two halvings caused rallies, but if you look at the timing, it's not true at all. In markets, we don't talk about "catalysts" triggering moves a year later.

In fact, shortly after the 2016 halving, price dropped by 32% over the course of a few weeks! Roll Eyes

It would be more accurate to say Bitcoin is simply in a long term uptrend. In fact, since everyone expects upside when the halving occurs, I would expect either downside or sideways. If the crowd is heavily long, price will usually drop. Any successful trader knows the crowd is usually wrong.

I actually thought I was the only one who noticed this. In the previous years that we halved, it was the next year before we even saw a huge bull run at all and like you said, this should not even be considered a catalyst at all when it comes to the movement of the market.

However, I guess for every movement in the market, both uptrend and downtrend; people will always look for one fundamental action to attach to it, even though the market is just moving on its own course based on adoption. I really do not see how halving have been the main cause for market movement and I do not see why people are attaching bullishness to it.

It's just human nature to try to rationalize every market event and price move. People don't understand markets. Because they're spontaneous and somewhat unpredictable, they assume any price move must be related to a fundamental event, and that fundamental events are what drives price. They just can't wrap their head around how "supply and demand" underlie the price, and how there are endless variables that affect supply and demand.

The one news story or fundamental event you can think of obviously doesn't tell the whole story. Cheesy

If anything, the halving is probably a "sell the news" event because of the hype around it. It'll be a while before the market actually starts to feel the lowered block reward, in the sense of absorbing available mining supply.

sana54210

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Quote from: exstasie on October 06, 2018, 01:33:12 PM

People always say the last two halvings caused rallies, but if you look at the timing, it's not true at all. In markets, we don't talk about "catalysts" triggering moves a year later.

In fact, shortly after the 2016 halving, price dropped by 32% over the course of a few weeks! Roll Eyes

It would be more accurate to say Bitcoin is simply in a long term uptrend. In fact, since everyone expects upside when the halving occurs, I would expect either downside or sideways. If the crowd is heavily long, price will usually drop. Any successful trader knows the crowd is usually wrong.

I actually thought I was the only one who noticed this. In the previous years that we halved, it was the next year before we even saw a huge bull run at all and like you said, this should not even be considered a catalyst at all when it comes to the movement of the market.

However, I guess for every movement in the market, both uptrend and downtrend; people will always look for one fundamental action to attach to it, even though the market is just moving on its own course based on adoption. I really do not see how halving have been the main cause for market movement and I do not see why people are attaching bullishness to it.

exstasie

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Quote from: zazarb on October 08, 2018, 04:45:22 AM

No doubt the price should rise, just because, automatic digging costs double up for miners. If the price not rise, they are not worth to continue its work.

Just to play devil's advocate, it really depends on demand. If demand remains consistent as new supply falls, then price should rise.

If demand drops a lot, who knows? It could be just like gold mining in spite of the halving. When the mining operation is loss-making, it gets shut down. For examples, see here and here. Operators and their shareholders can't wait around forever making losses, simply hoping for the market to turn around. They liquidate the operations instead.

If that happens in Bitcoin, it's not the end of the world. Difficulty will drop and it'll become cheaper to mine. The market will even out.

bloodyvio

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do not expect too much if BTC halving will make the price of bitcoin rise
circulating supplies are around 17M and those that have not circulated around 3M
and every day miners always sell their bitcoin to get profit
BTC will rise if there is more adoption, halving will not have too much impact on prices

Biscutard

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Quote from: shamc on October 06, 2018, 03:56:44 PM

Three years is a long time to wait to reach an ATH. I think it will be a pump in 2019 for a new ATH somewhere between 20 and 50k. After the slump the bitcoin halving event will bring it to a new price somewhere between 50 and 100k

You think it will took 3 years to reach a new ATH again? Let's just wait and see if it will because the market today seems too impossible to predict even the most reputable people stop talking about it. Bearish trend for a year indeed, despite of halving by 2020 but i think it's not that enough since the price today is too far to reach again at $20k.

Febo

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Quote from: satb on October 05, 2018, 03:23:32 AM

At around May 2020 the block reward for Bitcoin mining will drop from 12.5 BTC to 6.25 BTC. In past halvings in 2012 and 2016, approximately 12 - 18 months after the halving new ATHs in price were reached.

Is this due to miners gradually not selling the coin at the market rate due to the lower amount of BTC mined, thus causing lower supply and more demand?

Past performance doesn't necessarily reflect future performance, but with the halving being a fixed event every 210,000 blocks, and supply decreasing as a result, what is the likelihood that around the latter part of 2021 there will be a new ATH?

Old ATH of $1200 was reached in March 2017 so only 4 months after halving. This time should happen even earlier because people will want to buy cheap Bitcoins before the rest. So May 2020 is totally ready for $20k Bitcoin.

guoyu78

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Quote from: pooya87 on October 07, 2018, 12:26:36 AM

Quote from: exstasie on October 06, 2018, 01:33:12 PM

People always say the last two halvings caused rallies, but if you look at the timing, it's not true at all. In markets, we don't talk about "catalysts" triggering moves a year later.

In fact, shortly after the 2016 halving, price dropped by 32% over the course of a few weeks! Roll Eyes

it is because the halving rise caused by its hype occurs before the halving not after it. the rise usually starts about 2 months before the date and what you see afterwards is the correction of that hyped up rise.

however, the thing is halving is only one of the many reasons why price is rising but for some reason these topics want to focus on it despite halving being too far away.

I actually always do think that there are so many things that make up the market movement than just halving and I feel a lot of people are putting too much emphasis on the idea of halving actually being the cause.

Yeah, it is a speculative market, hype can easily cause something to skyrocket and the hype with the whole halving thing over the years has been crazy. You are right with the hype starting a lot before the halving anyway, with a correction afterwards and the next year coming with a new set of rally, but however it is and like exstasie said, I feel it is just the market moving on its own with a long term uptrend and nothing else.

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Quote from: satb on October 08, 2018, 08:56:01 AM

Quote from: zazarb on October 08, 2018, 04:45:22 AM

No doubt the price should rise, just because, automatic digging costs double up for miners. If the price not rise, they are not worth to continue its work. besides, before each halving, price always increased, so it is very likely that it will be this time

Exactly, I don't think many miners are going to make a loss selling their lower reward of 6.25 BTC which costs the same in energy costs when they received 12.5 BTC per block previously.

There will be a gradual price rise leading up to the event, then a consolidation/drop after the event, and then a peak around 18 - 24 months after the event (but that is based on a historical events), and is only a prediction.

Yes, I do not think we will see a significant change in prices. I think this will be an organic action during which the price will gradually reach the threshold from which it will be possible to continue selling Bitcoins profitable even after halving.

messito

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It seems to me that these events are in no way connected with each other and Bitcoin as it was growing by itself so it will continue to do

satb

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Quote from: zazarb on October 08, 2018, 04:45:22 AM

No doubt the price should rise, just because, automatic digging costs double up for miners. If the price not rise, they are not worth to continue its work. besides, before each halving, price always increased, so it is very likely that it will be this time

Exactly, I don't think many miners are going to make a loss selling their lower reward of 6.25 BTC which costs the same in energy costs when they received 12.5 BTC per block previously.

There will be a gradual price rise leading up to the event, then a consolidation/drop after the event, and then a peak around 18 - 24 months after the event (but that is based on a historical events), and is only a prediction.

satb

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Quote from: Javi_Anibarro on October 06, 2018, 04:44:56 PM

Quote from: shamc on October 06, 2018, 03:56:44 PM

Three years is a long time to wait to reach an ATH. I think it will be a pump in 2019 for a new ATH somewhere between 20 and 50k. After the slump the bitcoin halving event will bring it to a new price somewhere between 50 and 100k

Based on what you could say something like that ? money is not easy to find and it is extremely hard to push the price into $10.000 right now due to multiple reasons.
ETF was rejected/delayed or whatever we called it(but me personally it was rejected), no hype from ETF and i believe institutional money will not flow into it.
they are smart, they won't put their money into it because they knew they can not push the price or trigger the pump without a news.
Another one is afraid, a lot of peoples are crying right now because they bought it at $20.000. Do you think they are stupid enough to buy it when the price is moving up a little from its average price ? they are already learned their lesson.

I think it will take a few years for those that bought at 20K so heal their wounds, that's why I think it is more likely in 2020/2021 rather than 2019 (notwithstanding my previous comments earlier). Its all about the confidence in the market, and by that time new players will also enter, FOMO will be a big driver as well as media reporting.

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No doubt the price should rise, just because, automatic digging costs double up for miners. If the price not rise, they are not worth to continue its work. besides, before each halving, price always increased, so it is very likely that it will be this time

pooya87

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Quote from: exstasie on October 06, 2018, 01:33:12 PM

People always say the last two halvings caused rallies, but if you look at the timing, it's not true at all. In markets, we don't talk about "catalysts" triggering moves a year later.

In fact, shortly after the 2016 halving, price dropped by 32% over the course of a few weeks! Roll Eyes

it is because the halving rise caused by its hype occurs before the halving not after it. the rise usually starts about 2 months before the date and what you see afterwards is the correction of that hyped up rise.

however, the thing is halving is only one of the many reasons why price is rising but for some reason these topics want to focus on it despite halving being too far away.

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Quote from: wuvdoll on October 06, 2018, 10:55:42 AM

Everyone started to open topics about how the miners halving in 2020 would cause the price go up but you are forgetting one eternal truth about this. Everyone knows this, EVERYONE knows that bitcoin halving will happen in 2020.

Which means yes as a long term investment it would be fine, if you buy right now and wait for 2+ years I am sure you will have a lot of profits when that happen and if you wait couple months after the halving than I am sure price will settle at a high price even above $10-15k levels which means you would at least double your money in 2 years, that is good ROI. However no one thinks that it would be a 100% thing, it is still dangerous because of Chinese free mining farmers.

Just really a basic thing if the demand would still retain on Bitcoin market then halving event would happen then we can really presume high chances of price increase would be there but same as you said theres no certain thing or assurance. Long term holds is quite more realistic or worthy yet only a few years an we would head up on that event.

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Quote from: satb on October 05, 2018, 03:23:32 AM

At around May 2020 the block reward for Bitcoin mining will drop from 12.5 BTC to 6.25 BTC. In past halvings in 2012 and 2016, approximately 12 - 18 months after the halving new ATHs in price were reached.

Is this due to miners gradually not selling the coin at the market rate due to the lower amount of BTC mined, thus causing lower supply and more demand?

Past performance doesn't necessarily reflect future performance, but with the halving being a fixed event every 210,000 blocks, and supply decreasing as a result, what is the likelihood that around the latter part of 2021 there will be a new ATH?

Lately I have been seeing this "2020 is the time bitcoin will skyrocket" a lot in these topics.

Yes, when the miner halving happens the price will be more than what it is right now but people are forgetting that the price will be already adjusted to that before it happens, maybe a week before that maybe a month maybe a year but eventually when the day comes it won't change all of a sudden because the price will be already affected by it beforehand.

You guys should take your long term positions right now for it to worth something when that happens. Otherwise you will be all too late to get any decent profits from it.

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Quote from: shamc on October 06, 2018, 03:56:44 PM

Three years is a long time to wait to reach an ATH. I think it will be a pump in 2019 for a new ATH somewhere between 20 and 50k. After the slump the bitcoin halving event will bring it to a new price somewhere between 50 and 100k

Based on what you could say something like that ? money is not easy to find and it is extremely hard to push the price into $10.000 right now due to multiple reasons.
ETF was rejected/delayed or whatever we called it(but me personally it was rejected), no hype from ETF and i believe institutional money will not flow into it.
they are smart, they won't put their money into it because they knew they can not push the price or trigger the pump without a news.
Another one is afraid, a lot of peoples are crying right now because they bought it at $20.000. Do you think they are stupid enough to buy it when the price is moving up a little from its average price ? they are already learned their lesson.

shamc

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Three years is a long time to wait to reach an ATH. I think it will be a pump in 2019 for a new ATH somewhere between 20 and 50k. After the slump the bitcoin halving event will bring it to a new price somewhere between 50 and 100k

exstasie

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People always say the last two halvings caused rallies, but if you look at the timing, it's not true at all. In markets, we don't talk about "catalysts" triggering moves a year later.

In fact, shortly after the 2016 halving, price dropped by 32% over the course of a few weeks! Roll Eyes

It would be more accurate to say Bitcoin is simply in a long term uptrend. In fact, since everyone expects upside when the halving occurs, I would expect either downside or sideways. If the crowd is heavily long, price will usually drop. Any successful trader knows the crowd is usually wrong.

wuvdoll

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Everyone started to open topics about how the miners halving in 2020 would cause the price go up but you are forgetting one eternal truth about this. Everyone knows this, EVERYONE knows that bitcoin halving will happen in 2020.

Which means yes as a long term investment it would be fine, if you buy right now and wait for 2+ years I am sure you will have a lot of profits when that happen and if you wait couple months after the halving than I am sure price will settle at a high price even above $10-15k levels which means you would at least double your money in 2 years, that is good ROI. However no one thinks that it would be a 100% thing, it is still dangerous because of Chinese free mining farmers.

pooya87

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Quote from: satb on October 05, 2018, 11:16:48 AM

Quote from: Thirdspace on October 05, 2018, 10:27:47 AM

Quote from: Javi_Anibarro on October 05, 2018, 04:11:40 AM

Supply won't decrease but instead the rewards that will be.

correct.
and if the total miners stay the same that means hashing rate and difficulty stay about the same
hence mining cost will be essentially double up... to mine 12.5 BTC needs 2 blocks of 6.25 BTC
and based on stats history, hash rate and difficulty actually always keeps rising in time
this might be the reason why the price reached ATH ~12 months after halving

Agree. Some lower scale miners may quit mining if they can't afford to run their equipment and pay for energy costs. This would decrease difficulty for a short while, until it levels out again and then rises. I guess this is the reason it can take circa 12 - 18 months.

i actually because that these small miners whom you call "lower scale" are the ones that aren't going to quit that easily. simply because if you have 1 ASIC for example and are mining bitcoin with it, you don't have that much of a high electricity cost as the big miners do. so even if your earning reduces you may not care as much, specially since this type of miners are sometimes hobby miners and believers in bitcoin's long run future. so they may not even be selling the coins they mine!

timerland

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Quote from: satb on October 05, 2018, 03:23:32 AM

At around May 2020 the block reward for Bitcoin mining will drop from 12.5 BTC to 6.25 BTC. In past halvings in 2012 and 2016, approximately 12 - 18 months after the halving new ATHs in price were reached.

Is this due to miners gradually not selling the coin at the market rate due to the lower amount of BTC mined, thus causing lower supply and more demand?

Past performance doesn't necessarily reflect future performance, but with the halving being a fixed event every 210,000 blocks, and supply decreasing as a result, what is the likelihood that around the latter part of 2021 there will be a new ATH?

It's not lower supply per se. But it does mean that the cost of minting each coin goes up, as the rewards half.

And also, probably the most imprtont aspect to this is that investors are emotionally affected by the event simply because there is a track record for bitcoin to show strongly during and after the halving event, and that causes a bull rally in itself.

You're right in expecting the next bull market to come somewhere around 2020-2021, though, given the historical data that we've got associated with the halving and the bull markets that follow. It also fits nicely with the end of the bear market which has in the past, lasted around 1-1.5 years, which again, means that it would end some time late next year, just before the halving.

BitHodler

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Quote from: satb on October 05, 2018, 11:16:48 AM

Agree. Some lower scale miners may quit mining if they can't afford to run their equipment and pay for energy costs. This would decrease difficulty for a short while, until it levels out again and then rises. I guess this is the reason it can take circa 12 - 18 months.

The difficulty won't really decrease because when smaller miners stop mining, the larger miners immediately fire up more of their own hardware to benefit. It's quite a competitive aspect of crypto where only the strongest survive.

Some larger miners even intentionally fire up more hardware in an attempt to make smaller miners quit. Smaller miners will try to keep mining as long as possible, even when it isn't all that profitable in the short term.

You have to keep in mind that turning off hardware isn't an option with how the difficulty won't be going down. The only thing you're doing in that case is granting other miners more profits, and your position in the network is gone.

satb

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Quote from: Thirdspace on October 05, 2018, 10:27:47 AM

Quote from: Javi_Anibarro on October 05, 2018, 04:11:40 AM

Supply won't decrease but instead the rewards that will be.

correct.
and if the total miners stay the same that means hashing rate and difficulty stay about the same
hence mining cost will be essentially double up... to mine 12.5 BTC needs 2 blocks of 6.25 BTC
and based on stats history, hash rate and difficulty actually always keeps rising in time
this might be the reason why the price reached ATH ~12 months after halving

Agree. Some lower scale miners may quit mining if they can't afford to run their equipment and pay for energy costs. This would decrease difficulty for a short while, until it levels out again and then rises. I guess this is the reason it can take circa 12 - 18 months.

satb

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Quote from: dothebeats on October 05, 2018, 07:57:52 AM

The halving of block reward seems to be one of the most sensationalized events in the whole of cryptocurrency market, while in reality there's nothing really special about it; it just makes the 'minting' of new coins slower, and the number of coins remain to be the same (21M). The notion that bitcoins will get more scarce every time the reward is halved is false, and the expectation that the price will soar whenever a halving occurs is also false. There are cases in which a block reward halving didn't bring any pushes whatsoever in the market, which makes me believe that it's not a guaranteed 'profit-booking' when a halving takes place.

My thoughts are that when a miner receives a block rewards of 6.25 BTC instead of 12.5 BTC, he/she will have to cover the electricity costs. When they're receiving half the revenue and paying the same electric costs after halving, then they're not likely going to sell at the market price, this would have an impact on the price. Of course I could be wrong, would need a miners input on this one.

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Quote from: Javi_Anibarro on October 05, 2018, 04:11:40 AM

Supply won't decrease but instead the rewards that will be.

correct.
and if the total miners stay the same that means hashing rate and difficulty stay about the same
hence mining cost will be essentially double up... to mine 12.5 BTC needs 2 blocks of 6.25 BTC
and based on stats history, hash rate and difficulty actually always keeps rising in time
this might be the reason why the price reached ATH ~12 months after halving

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it can only reduce a little dump, because people with big capital deliberately play prices in the market for personal interests. miners with investors are interrelated, because miners will sell bitcoin to investors.

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In my opinion with the upcoming event and because of the halving I really think that a new All time high by the time of 2020 and it will be on December I really think it will be a slow pace movement, And the market will sure gain stability moving upward in a slow sure pace, My opinion would be in December because of the slow movement that bitcoin would show and because of this the years 2021 would have a newer ATH every month.

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Quote from: dothebeats on October 05, 2018, 07:57:52 AM

The halving of block reward seems to be one of the most sensationalized events in the whole of cryptocurrency market, while in reality there's nothing really special about it; it just makes the 'minting' of new coins slower, and the number of coins remain to be the same (21M).

It may be a bit hyped up, but there is definitely a core of truth in how it will affect the price.

Quote from: dothebeats on October 05, 2018, 07:57:52 AM

The notion that bitcoins will get more scarce every time the reward is halved is false, and the expectation that the price will soar whenever a halving occurs is also false. There are cases in which a block reward halving didn't bring any pushes whatsoever in the market, which makes me believe that it's not a guaranteed 'profit-booking' when a halving takes place.

In this market everything happens in advance of the event, which means that when let's say the block halving kicks in today, the price won't move one single bit, because it did already in the runup to the event (could be 6-12 months before the actual halving).

Another factor is that with how we might see some coin backed products before the halving, combined with the increasing demand for OTC trades, all sorts of entities right now relying on miners to provide them coins will have to buy them on the spot market to fill up their reserves. That's why I expect a pretty firm and long lasting uptrend in 2019 which will likely be the last ever time we see sub $10,000 levels.

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The halving of block reward seems to be one of the most sensationalized events in the whole of cryptocurrency market, while in reality there's nothing really special about it; it just makes the 'minting' of new coins slower, and the number of coins remain to be the same (21M). The notion that bitcoins will get more scarce every time the reward is halved is false, and the expectation that the price will soar whenever a halving occurs is also false. There are cases in which a block reward halving didn't bring any pushes whatsoever in the market, which makes me believe that it's not a guaranteed 'profit-booking' when a halving takes place.

satb

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Quote from: Javi_Anibarro on October 05, 2018, 05:10:41 AM

Quote from: satb on October 05, 2018, 04:56:10 AM

Quote from: Javi_Anibarro on October 05, 2018, 04:11:40 AM

Supply won't decrease but instead the rewards that will be.
Talking about a new ATH,i do not really sure about it because last time we got pumped due to hype from CME listing. But halving will cause or trigger another pump absolutely because we need miners to mine it and making the chain works. In other words,if the price is not increasing the miners will sell their hardware and it will affect the system which is not favorable event for Bitcoin.

I think it was a number of things that lead to the pump last year, one of those was the amount of "free" crypto generated from the BTC forks, and investment going into the fork that was due in November but didn't go ahead, also FOMO and greed, and also the hype generated by the media when BTC price was rising, a lot of new buyers came into the market.

Yes the market moved like that a year ago.
But it does not mean we will see it again in 2021 or before that year right ? that was why i am a little bit skeptical about creating a new ATH if we are looking at our current development and news. Also that was why many people felt scared about cryptocurrency right now, a huge pump that lead us into this chaotic market.
even i am not sure whether we can see its peak again in the future or not.
So much tears,cry and moan in our current market.

It will take time for confidence to return to the market, people will forget about the end of 2017 in a few years time just as they did with the long bear market after the 2013 ATH. By that time there will be new investors as well as institutional investors, I think regulation is the only thing holding them back.

satb

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Quote from: Baofeng on October 05, 2018, 04:31:28 AM

Quote from: satb on October 05, 2018, 03:23:32 AM

At around May 2020 the block reward for Bitcoin mining will drop from 12.5 BTC to 6.25 BTC. In past halvings in 2012 and 2016, approximately 12 - 18 months after the halving new ATHs in price were reached.

Is this due to miners gradually not selling the coin at the market rate due to the lower amount of BTC mined, thus causing lower supply and more demand?

Past performance doesn't necessarily reflect future performance, but with the halving being a fixed event every 210,000 blocks, and supply decreasing as a result, what is the likelihood that around the latter part of 2021 there will be a new ATH?

If I'm not mistaken, during the last block halving, it took around 3-4 months before we see some dramatic changes in the price. So I'm expecting that after the event, we might see the price picking up again and might hit another all-time-high.

I think on both previous halving in 2012 and 2016 it took roughly 12 - 18 months to reach the ATH.

2012 halving was in 28 Nov 2012 - (~$12.22) - ATH of ~$1000 was in Nov 2013 (12 months after halving)
2016 halving was in 9 July 2016 (~$657.61) - ATH of ~$20,000 was in Dec 2017 (18 months after halving)
2020 halving due in May 2020 (?)- ATH? of (?) in ?

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Quote from: satb on October 05, 2018, 04:56:10 AM

Quote from: Javi_Anibarro on October 05, 2018, 04:11:40 AM

Supply won't decrease but instead the rewards that will be.
Talking about a new ATH,i do not really sure about it because last time we got pumped due to hype from CME listing. But halving will cause or trigger another pump absolutely because we need miners to mine it and making the chain works. In other words,if the price is not increasing the miners will sell their hardware and it will affect the system which is not favorable event for Bitcoin.

I think it was a number of things that lead to the pump last year, one of those was the amount of "free" crypto generated from the BTC forks, and investment going into the fork that was due in November but didn't go ahead, also FOMO and greed, and also the hype generated by the media when BTC price was rising, a lot of new buyers came into the market.

Yes the market moved like that a year ago.
But it does not mean we will see it again in 2021 or before that year right ? that was why i am a little bit skeptical about creating a new ATH if we are looking at our current development and news. Also that was why many people felt scared about cryptocurrency right now, a huge pump that lead us into this chaotic market.
even i am not sure whether we can see its peak again in the future or not.
So much tears,cry and moan in our current market.

satb

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Quote from: Javi_Anibarro on October 05, 2018, 04:11:40 AM

Supply won't decrease but instead the rewards that will be.
Talking about a new ATH,i do not really sure about it because last time we got pumped due to hype from CME listing. But halving will cause or trigger another pump absolutely because we need miners to mine it and making the chain works. In other words,if the price is not increasing the miners will sell their hardware and it will affect the system which is not favorable event for Bitcoin.

I think it was a number of things that lead to the pump last year, one of those was the amount of "free" crypto generated from the BTC forks, and investment going into the fork that was due in November but didn't go ahead, also FOMO and greed, and also the hype generated by the media when BTC price was rising, a lot of new buyers came into the market.

talkbitcoin

legendary

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All I know is that I know nothing.

there is a bigger likelihood of a new ATH in 2019 and at the very least we may see the previous ATH be reached slowly as the market reversal takes place and the money that has been waiting patiently on the side lines to come in, jumps back in enthusiastically to buy bitcoin which is now growing so fast.

Baofeng

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Quote from: satb on October 05, 2018, 03:23:32 AM

At around May 2020 the block reward for Bitcoin mining will drop from 12.5 BTC to 6.25 BTC. In past halvings in 2012 and 2016, approximately 12 - 18 months after the halving new ATHs in price were reached.

Is this due to miners gradually not selling the coin at the market rate due to the lower amount of BTC mined, thus causing lower supply and more demand?

Past performance doesn't necessarily reflect future performance, but with the halving being a fixed event every 210,000 blocks, and supply decreasing as a result, what is the likelihood that around the latter part of 2021 there will be a new ATH?

If I'm not mistaken, during the last block halving, it took around 3-4 months before we see some dramatic changes in the price. So I'm expecting that after the event, we might see the price picking up again and might hit another all-time-high.

Javi_Anibarro

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tBTC - https://dapp.tbtc.network/

Supply won't decrease but instead the rewards that will be.
Talking about a new ATH,i do not really sure about it because last time we got pumped due to hype from CME listing. But halving will cause or trigger another pump absolutely because we need miners to mine it and making the chain works. In other words,if the price is not increasing the miners will sell their hardware and it will affect the system which is not favorable event for Bitcoin.

satb

member

Activity: 202

Merit: 30

forum.nem.io

900 BTC mined per day as opposed to 1800 BTC mined per day.

satb

member

Activity: 202

Merit: 30

forum.nem.io

At around May 2020 the block reward for Bitcoin mining will drop from 12.5 BTC to 6.25 BTC. In past halvings in 2012 and 2016, approximately 12 - 18 months after the halving new ATHs in price were reached.

Is this due to miners gradually not selling the coin at the market rate due to the lower amount of BTC mined, thus causing lower supply and more demand?

Past performance doesn't necessarily reflect future performance, but with the halving being a fixed event every 210,000 blocks, and supply decreasing as a result, what is the likelihood that around the latter part of 2021 there will be a new ATH?

Topic: BTC halving and miner sell price (Read 390 times)