To the most anticipated events in the industry remained 364 days — halving of Bitcoin will happen in one year. On this occasion, cryptanthus under the name planB decided to throw in his page in Twitter a little poll about the future prices of the main cryptocurrency. As it turned out, the majority of investors expects a sharp jump in the value of Bitcoin immediately after halving.
Let the countdown begin
Recall halving is the process of reducing the rewards for mined block of Bitcoin. Now the miners get to 12.5 BTC per generating unit, but may 20, 2020 the network will “select” them only 6.25 BTC.
Between the previous Hellingly and the price movement of Bitcoin there is a clear correlation. A decrease reward for a unit of cryptocurrency — and there were three in one way or another become the trigger for a new bullish cycle has been completed. In average to Bitcoin reached its peak about a year after halving.
The impact of this event on the market is felt even now — since the beginning of 2019 main cryptocurrency managed to rise by at least 110 percent. The formation of a bullish trend confirmed by several well-known analysts, including Tom Lee.
See also: At what rate will the hysteria over Bitcoin? Expert’s answer.
His view is shared by investors. In a recent survey by planB was attended by more than 1,900 people. 61 percent of them believe in the gradual rise in price of Bitcoin down to halving. In addition count on a new bottom is not necessary — in the future the price of cryptocurrencies will continue to grow.
How will markets react to #bitcoin halving 2020?
— planB (@100trillionUSD) May 20, 2019
No one knows how high Bitcoin will win this time. According to the most optimistic estimates, in the long run, the coin could grow even up to $ 10 million.
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