Less than 100 Days Left for Bitcoin to Become the Second Asset to Have S2F50 after Gold

The much-awaited Bitcoin halving is now less than 100 days away. Scheduled to occur in May, the Bitcoin block mining reward halves every 210,000 blocks. Last time in July 2016 the second halving occurred that reduced the reward from 25 BTC to 12.5 BTC and this time the reward will decrease from 12.5 bitcoin to 6.25 coins.

Also, it will decrease bitcoin inflation from 3.68% to 1.80%, which is less than that of bullion and the Federal Reserve's targeted 2% for the US economy.

This also means the S2F ratio of the asset will double to 50, making it the second asset after gold to achieve this number. Currently, it has an SF of 25 which is close to Silver’s 22 but this halving would see it reaching closer to gold’s 62.

However, it is possible that the halving would come even sooner than this date because miners are adding a lot of hash power to the Bitcoin network.

On January 29, the hash rate jumped to a new all-time at 123 Th/s. This has the difficulty adjustment struggling to keep up with the hash power, as such hitting ATH at 15.4 trillion.

The bigger question is how the market will value it. Already, in 2020, the BTC price has surged 27.65% in anticipation of this event.

Historically, there has been a correlation between the bitcoin halvings and a significant increase in BTC price. However, not everyone in the crypto community believes this. Some exects this event to be already priced in.

However, a big percentage of people still see the reward halving as a proponent to drive BTC prices higher. Recently, prominent analyst, PlanB conducted a poll on Twitter to ask the community if “Bitcoin’s “halvening” won’t boost its price. Or will the cointegration between bitcoin price and stock to flow stay intact and boost btc price?

65.3% of the total 7,533 voters expect Bitcoin to rocket after the halving.

Weiss Crypto Ratings also believes the halving will “absolutely” drive the BTC prices higher and the only question is how much higher.

It further points out that halving has always ushered in explosive price increases. And in anticipation of that, miners have been increasing hash rate so as to snatch the last remaining blocks to capture 12.5 BTC.

“The May halving event IS likely to trigger a major new surge in the price of Bitcoin and most other cryptocurrencies. It’s hard to imagine a scenario in which BTC does NOT rise to new, all-time new highs, easily surpassing the $20,000 level.”

said Weiss Crypto ratings.

Bitcoin (BTC) Live Price

1 BTC/USD =$9,681.6074 change ~ -0.47%

Coin Market Cap

$178.1 Billion

24 Hour Volume

$3.95 Billion

24 Hour VWAP

$9.67 K

24 Hour Change

$-45.6285

Get Free Email Updates!

*Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

I will never give away, trade or sell your email address. You can unsubscribe at any time.

AnTy
AnTy
AnTy has been involved in the crypto space full-time for over two years now. Before her blockchain beginnings, she worked with the NGO, Doctor Without Borders as a fundraiser and since then exploring, reading, and creating for different industry segments.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

LEAVE A REPLY

Please enter your comment!
Please enter your name here

3,441FansLike
2,795FollowersFollow
4,192FollowersFollow

Live Bitcoin Price & Latest BTC Charts

Today's Latest Crypto News

Chinese Internet Giant Arm, Tencent Cloud, Looks to Form A 100-Member Blockchain Alliance

Tencent’s cloud computing arm venture is bringing together a 100-member blockchain alliance to further blockchain implementation and find new real-world use cases of the...

OKEx Crypto Exchange Launches ETH Options Contract; EOS Options Trading to Follow

One of the largest cryptocurrency trading and derivative platform OKEx, announced the launch of its Ether options contract on June 4th. On June 18th, the...

Bitcoin Market Currently in ‘Fear' But Don’t Try to Predict What’s Gonna Happen Next

Bitcoin will do what bitcoin does. And if anyone tries to bet on the digital currency’s next move, it will prove you wrong. We have seen...

Fed Reserve of Philadelphia Research: Account-Based CBDCs May Replace Commercial Banks

A research paper published on June 1, 2020, by the Federal Reserve of Philadelphia shows account-based central bank digital currency (CBDC) could potentially replace...

US Federal Bank Regulator (OCC) Issues Notice for Feedback on Crypto and DLT Activity

The Office of the Comptroller of Currency (OCC) has asked for feedback in matters crypto and distributed ledgers according to two notices published on...

BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.

Start Using Crypto Today