The third Halving in the Bitcoin Blockchain is less and less away, when the rewards received by the crypto miners will be halved. In an event that will change the way the crypto world works forever. However, one group of experts believes that this Bitcoin Halving will not be like the previous ones.
Samson Mow was right in his prediction of Bitcoin’s price before the Halving
Expectations for the Halving are growing
Never before has Halving in the Bitcoin Era, Bitcoin Machine, Ethereum Code, Bitcoin System, Immediate Edge generated such high expectations as this time. What makes sense, after all, the last Halving at BTC was in 2016. It should be noted that it happened several months before the popularity of the cryptomone currency exploded thanks to the big rally in 2017.
And it is precisely the memory of that rally, which placed the price of Bitcoin around $20,000 for the first and last time, that makes so many expectations about this Halving. Well, many investors, analysts and crypto influencers, expect history to repeat itself once again. With a substantial increase in the price of BTC.
This Bitcoin Halving won’t be like the ones before
In theory, this makes sense, since the main effect of Halving is a decrease in the growth rate of Bitcoin’s money supply. And as classical economic theory tells us, a lower supply with a stable demand invariably leads to an increase in prices.
So we see crypto influencers like Anthony Pompliano, and even entrepreneurs like Changpeng Zhao. Those who claim with total certainty that Halving will drive up the price of Bitcoin. Reports have been written in recent months about this possibility, and the effects it will bring to the crypto world.
Kraken Intelligence tells us what will happen after Bitcoin’s Halving
This time will be different
And precisely in order to know what to expect, CV Labs, a Blockchain project incubator in Switzerland’s Crypto Valley, invited a group of eight experts to talk about the Halving. They reached a basic consensus: this Halving will not be like the previous ones.
One of the main reasons why this will be the case is due to the shift in the balance of power within the Bitcoin Blockchain. For, as Mt Pelerin CEO Arnaud Salomon puts it, the miners have less and less weight within the BTC blockchain:
„The power has moved away from the miners. They are no longer in the same position as they were ten or even five years ago (…) Liquidity is already very high and since there is a lot of Bitcoin in circulation today, people are willing to trade and exchange“.
In addition to this, the effects of the Coronavirus crisis on the world economy would be added. This, according to Alexandre Juncker, author of „Blockchain Quaterly,“ will lead to an increase in the level of adoption of Bitcoin after Halving:
„We are witnessing the moment when a vast economic crisis triggered by a pandemic threatens to overwhelm already over-indebted states. In the turmoil ahead, the value proposition of a pure and unstoppable Bitcoin (…) is likely to find popular adoption away from the hyperinflation of Fiat in many countries.
The panel ended with a clear conclusion: It doesn’t matter where Bitcoin’s price goes. This Halving will be very different from all those that have been given so far, for reasons that go beyond the BTC price. Which makes this our Tip of the Day here at CryptoTrend.