Bitcoin Could Post Same 10x Increase After 2020 Halving, 2016 Halving $268 to $2,525 BTC/USD
- The halving of Bitcoin occurs approximately every four years.
- The next halving is expected to increase the value of Bitcoin, just like it has in the past.
The whole structure of Bitcoin is set up in a way that a block reward halving is implemented every four years, approximately. In this halving, the reward given to miners for their work slowly gets cut in half. That reduction has been a key fundamental factor in the rallies that Bitcoin has had so far.
In the time from July 2016 to 2017, which was within the amount of time that the block reward halved before, the price of Bitcoin ended up rising from $268 to $2,525. Large gains have seemed to arise with each halving of the asset as well.
Still, as has been exhibited in the market many times, the former actions that Bitcoin has taken has not necessarily followed its history. Even though Bitcoin has seen impressive gains in the past that were triggered by the halving, the same may not happen with the next halving.
It is worth considering that the halving of the network has had an impact on the rate the Bitcoin comes into the market and the way it is generated. The asset may end up seeing a spike if the demand for Bitcoin either remains the same or increases over time with the decrease of Bitcoin supply. However, the only way to truly see what will happen to Bitcoin’s value with the halving is to wait until it happens.
Remember to watch the ‘Bitcoin's Wild Ride' on CBS 60 Minutes today as well.
60 Minutes just aired a free commercial for Bitcoin. Great press for Bitcoin owners looking to sell to CBS viewers who may be suckered into buying based on this very one-sided segment. At a minimum CBS owed its audience a healthy degree of skepticism. Very bad reporting as usual!
— Peter Schiff (@PeterSchiff) May 20, 2019
Bitcoin’s price is $57,593.15 BTC/USD exchange rate today. The real-time BTC market cap of $1.08 Trillion currently ranks #1 with a chart dominance at 62.37%, daily trading volume of $25.32 Billion and live coin value change of BTC -1.46 in the last 24 hours.