So what is going to happen to the
Bitcoin price when the “halvening” happens? Now the halvening is going to happen in
May, I think, and it’s when the reward for mining a block on the Bitcoin blockchain
drops from 12.5 bitcoins to 6.25 bitcoins. Now this
event has happened twice before, because back in the good old heady days you
got 50 bitcoins on mining a block and every four years it halves
until eventually there’s no reward left. so we’ve had it halve to 25 and again to
12.5 and here’s my prediction as to what will happen to the Bitcoin
price: I have no idea. The previous two halvenings the price of Bitcoin rose
substantially, however I think there are a few factors to consider this time
around. So if the markets are mature enough, then it’ll all be priced in
already and they’ll be no change, so that’s one prediction – it stays roughly
the same. If the halvening means that the reward for mining doesn’t pay for the
mining effort, then the number of miners mining will drop and the hash
rate will drop, and generally speaking when the hash rate drops, then the price
drops, so that would suggest that the price will go down. Possibly quite
substantially – it may halve. And finally, if people only become
aware later on about the scarcity of a bitcoin increasing and the
fact that there are less bitcoins being sold by miners, because there are less
being produced while the demand stays the same or even rises then that would
suggest that the price should actually go up, maybe even double. So there you
have my prediction – after the halvening the price of Bitcoin will either remain
the same or it will go up or it will go down, and I can guarantee that this
prediction is absolutely correct
and accurate. Bye for now!