Historically, bitcoin has been seen to rally more months before its halving. And many have been speculating that history will repeat itself.
What is Bitcoin halving? Bitcoin halving is when the reward for miners per block mined is being splitted in half. This reduces the amount of bitcoin entering circulation and increases the cost of securing the network as well.
The current block reward for bitcoin miners is 12.5 btc per block. This will be reduced to 6.25 after the halving event that will take place on 20, May 2020.
Bitcoin will be more scarce and this inturn will have impact on the price when demand becomes greater than the supply. In my opinion, this will trigger the start of a new all time high that will get everyone talking.
Analysts and speculators are forecasting Bitcoin to worth more than a $100,000 by 2022. While some even see Bitcoin worth $1,000,00 per coin.
Do you see the next Bitcoin halving having an effect on the price of Bitcoin by 2020? Share your thoughts and Opinion with me.
