HAS THE 2020 BITCOIN HALVING LIVED UP TO ITS EXPECTATION? - page 2.

pakhitheboss

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Bitcoin halving is basically Bitcoin halved to allow cryptocurrency mining to produce 50% of its global existing value.
It always happens every four years.

This is actually not true. Bitcoin halving is not guaranteed to occur every 4 years. It basically depends on the blocks wherein after every 210,000 blocks are mined halving happens. So, If Bitcoin is mined faster halving will occur sooner.

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This year in 2020, a historic moment occurred on May 12, which helped reduce the mining reward from 12.5 BTC to 6.25 blocks.

Yes, it is historic and would be known more than any other halving because of the pandemic affecting the global economy and Bitcoin still holding on.

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If you look at the trend of halving before, it will cause an astronomical increase in prices, which will translate to huge market fluctuations in other digital currencies including Bitcoin.

I do not agree with this statement. Historically there has always been a Bill run just before halving and this time it did not happen.

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Honestly I'm not expecting any bullrun after the halving event month ago, past bullrun history doesn't work this way so I expect same thing, if any good market will happen it will be after this year, probably 2021

BIT-BENDER

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Bitcoin halving can tentatively bring on a bull run, but there was no expectation from me that 2020 halving will have speedy right on effect on the price of bitcoin, but this year halving has had effect, - the price of bitcoin after this year halving has not gone bad- the halving -together with the lockdown- caused a public curiosity about bitcoin and crypto-coins.

GreatArkansas

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Quote from: Bitstar_coin on June 20, 2020, 09:58:34 AM

Well in terms of price I would say not really because going by the history of halving it mostly results to a huge increase in price which also translate to other alts to also rise tremendously, but so far the btc post halving have not brought such result, and like the OP already pointed out, this year's halving happen in a time when the world was facing a serious treat in human lives as a result of the pandemic,
(...)

A lot of people expecting that the price of Bitcoin will do a parabolic run because of Bitcoin Block Halving.
Well, they really expect Bitcoin is the way on how they will get rich easily.
For me, this block halving of Bitcoin becomes more realistic, no huge pump or dump happened. We are kinda neutral which is for me, it's healthy for Bitcoin.

Bitstar_coin

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Well in terms of price I would say not really because going by the history of halving it mostly results to a huge increase in price which also translate to other alts to also rise tremendously, but so far the btc post halving have not brought such result, and like the OP already pointed out, this year's halving happen in a time when the world was facing a serious treat in human lives as a result of the pandemic,

The attention shifted from btc halving to fighting for survival and staying alive, money was channel to keeping people alive and helping the needy instead, many people didn't think much about investment, I guess this is the reason btc price in this year's halving was not as expected. But who knows what will happen in future.

blockman

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It's still early to expect what the halving shall bring to us. Give time for at least a year so that we can see the big impact of it with the price increase and expected pump to the market. I should say that don't look for the short term gains that this halving will bring but look for the longer term which will give a better benefit not just for everybody but also for the new investors and, people who are still in the phase of learning about bitcoin.

robelneo

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I still say yes, it's too early to cast doubts that Bitcoin will not deliver, the halving happens only a month and we are in a pandemic the situation is new to the industry and the community was caught by surprised, I still believe that another all-time high is coming this year or early next year, we just have to be patient and continue to support this technology, things will be better once the whole world recovers from this pandemic, it still has an impact.

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Quote from: Iyeman on June 20, 2020, 08:09:06 AM

Have you checked the old history of the halving in 2016? i may suggest you to check the whole chart that happened in 2016 - 2018 and the pump will not happen instantly. The impact caused by the inflation to the bitcoin will decrease gradually and you can't take the halving will bring instant pump. It needs the time.

Base on the old graph we are still in accumulation time and we can expect the pump to happen by the end of this year or maybe next year. I know that not all investors don't have that patience so if you don't want to wait that long its better to make a short trade every time there is a big movement on the market.

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Quote from: TheICE007 on June 20, 2020, 07:53:08 AM

Bitcoin halving is basically Bitcoin halved to allow cryptocurrency mining to produce 50% of its global existing value.
It always happens every four years. This year in 2020, a historic moment occurred on May 12, which helped reduce the mining reward from 12.5 BTC to 6.25 blocks. Interestingly, traders and miners have adapted themselves to the new reality that bitcoin production restrictions may be the world's most valuable global priceless virtual currency. If you look at the trend of halving before, it will cause an astronomical increase in prices, which will translate to huge market fluctuations in other digital currencies including Bitcoin.

It can't be felt right away, we are just barely months from the last halving. The effect should be in years to come. Last halving was 2016 and after more than a year, it reaches all time high in 2017, that is the history. So for this year, it might take some time before we can see another huge gain culminating to a new all time high.

Quote from: TheICE007 on June 20, 2020, 07:53:08 AM

According to our observations, this year’s halving of bitcoin hoccurred in the global economic collapse brought about by the terrible Covid 19 pandemic. Even so, key experts believe that bitcoin is taking on global security assets and Important value reserve.

We already bounce back, we more than double the last lower low due to the pandemic scare. So it just shows how resilient bitcoin is. The only thing we can do is wait for it to move, might take years though, so patience is the key here.

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Quote from: TheICE007 on June 20, 2020, 07:53:08 AM

Bitcoin halving is basically Bitcoin halved to allow cryptocurrency mining to produce 50% of its global existing value.
It always happens every four years. This year in 2020, a historic moment occurred on May 12, which helped reduce the mining reward from 12.5 BTC to 6.25 blocks. Interestingly, traders and miners have adapted themselves to the new reality that bitcoin production restrictions may be the world's most valuable global priceless virtual currency. If you look at the trend of halving before, it will cause an astronomical increase in prices, which will translate to huge market fluctuations in other digital currencies including Bitcoin. According to our observations, this year’s halving of bitcoin hoccurred in the global economic collapse brought about by the terrible Covid 19 pandemic. Even so, key experts believe that bitcoin is taking on global security assets and Important value reserve.

Relax mate, you want to conclude too fast, you should be asking about analysis of post halving by the end of 2021, things take time to build and how can you ignore the fact that financial activity is under stress at the moment due to pandemic so people are kind of hesitant to invest or take new positions right now.
As soon as the situation improves you will see market becoming super positive atleast that is what I expect personally.

Iyeman

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Have you checked the old history of the halving in 2016? i may suggest you to check the whole chart that happened in 2016 - 2018 and the pump will not happen instantly. The impact caused by the inflation to the bitcoin will decrease gradually and you can't take the halving will bring instant pump. It needs the time.

TheICE007

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Bitcoin halving is basically Bitcoin halved to allow cryptocurrency mining to produce 50% of its global existing value.
It always happens every four years. This year in 2020, a historic moment occurred on May 12, which helped reduce the mining reward from 12.5 BTC to 6.25 blocks. Interestingly, traders and miners have adapted themselves to the new reality that bitcoin production restrictions may be the world's most valuable global priceless virtual currency. If you look at the trend of halving before, it will cause an astronomical increase in prices, which will translate to huge market fluctuations in other digital currencies including Bitcoin. According to our observations, this year’s halving of bitcoin hoccurred in the global economic collapse brought about by the terrible Covid 19 pandemic. Even so, key experts believe that bitcoin is taking on global security assets and Important value reserve.

Topic: HAS THE 2020 BITCOIN HALVING LIVED UP TO ITS EXPECTATION? - page 2. (Read 406 times)