Many cryptocurrency market analysts are asking the question when Bitcoin will finally rebound decisively and begin its slow rise. Today, we will consider whether the rescue for the oldest blockchain currency is another reduction in the reward for its mining (i.e. halving). In anticipation of the split Let's first recall what the economic side of Bitcoin mining looks like. At the very beginning, the reward for each block, generated every 10 minutes or so, was 50 BTC. After 210,000 blocks were dug (after about 4 years), that number dropped to 25 BTC. When did this happen? November 28, 2012. Another change took place on July 9, 2016. Since then, the reward is only 12.5 BTC. As you can easily count, now halving awaits us next year. Now take a look at the chart below: The red arrows on it mark the moment of equal year before the introduction of reward sharing. The different colored boxes (pink, blue and green) show the periods when the reward for mining a block was X BTC (that is, X equals 50, 25 and 12.5 BTC, respectively). So you can easily see that the price increases started a year before the halving itself. Now let's go to this link together. The BitcoinBlockHalf.com portal is helping us count down to the next split. So today we know that halving will take place in May next year. Does this mean that the price of BTC will start rising from May this year? Theoretically yes, although remember that the price of cryptocurrencies can be influenced by a mass of other factors such as: the general situation on global markets, the political climate or the actions of the digital currency community - including the miners or developers themselves. Foundations On the other hand, observations of the foundations are encouraging. As Crypto Trader analyst NexusHash wrote on his blog: Billions of $ are flowing towards companies related to distributed ledger technologies like Blockchain. I think it will be about 3-5 years before the technology is fully usable. The cryptocurrency market itself will once again hit new heights in 2-3 years, it's safe to assume a new target for Bitcoin at $250,000, which is confirmed by billionaire Tim Drapper, I've been following him for years, I'm sure he knows what he's talking about. From the positive news we have the launch of the Bakkt platform which is due in 2 months on January 24, 2019 (the date has already been postponed 2 times). The other good news is the Swiss stock exchange starts trading the Crypto ETP index which includes 5 leading cryptocurrencies. As you can see, the crypto market is finally opening up to institutional investors, which will break the 2017 bank in a few years. However, remember that the cryptocurrency market is still quite unpredictable, so setting your sights fully on the above scenario is a risky approach. Tags bitcoin Crypto Trader halving cryptocurrencies course award NexusHash breakdown decline in reward
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