BTChalfing
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#BTChalfing Hi folks, I have a different perspective about bitcoin halving. Only 27m USD a day will stop being mined after the halving while the BTC daily volume now stands at 62B USD a day, this is less than 0.1% of daily volume. This should therefore have a very minimal impact on price if we take out the psychological aspect. In the past, much lower volumes and higher supply cuts made the halving much more impactful, this time around it will be a non-event, the only thing that may take BTC higher is the ETF approvals and significantly more interest from individual investors, I still see BTC double in the next 1-2 years but the recent sharp increase has taken BTC way ahead of its trajectory and this is where I expect a retracement of BTC to 45k USD - 50k USD in a best case scenario. However, focusing on coins of the future with real and promising projects such as Solana, Arbitrum, VeChain, PancakeSwap and Polkadot would not be a bad idea at current price levels…
What is Bitcoin Halving? and it's impact on cryptocurrencies?
A Bitcoin halving is a programmed event that occurs roughly every four years, where the block reward for miners mining new bitcoins is cut in half. This means that fewer new bitcoins are released into circulation, which can theoretically impact the price of Bitcoin and other cryptocurrencies.
•Here's a breakdown of the key points:
What happens during a halving?
-The block reward, which is currently 6.25 bitcoins, is reduced by 50%.
-This happens roughly every 210,000 blocks mined, which translates to approximately every four years.
-The total supply of Bitcoin is capped at 21 million, and halvings ensure this limit is reached gradually.
*Potential effects on Bitcoin:
•Decreased supply: With fewer new coins entering circulation, the supply of Bitcoin becomes more scarce. Scarcity can theoretically drive up the price due to increased demand.
•Increased mining difficulty: As fewer rewards are available, miners compete more intensely for them, leading to increased difficulty in mining new blocks. This can lead to higher transaction fees.
•Psychological impact: Halvings are highly anticipated events in the crypto community and can generate excitement and optimism, potentially influencing investor behavior and price movements.
#Write2Earn #BTChalfing #Btc #crypto
A Bitcoin halving is a programmed event that occurs roughly every four years, where the block reward for miners mining new bitcoins is cut in half. This means that fewer new bitcoins are released into circulation, which can theoretically impact the price of Bitcoin and other cryptocurrencies.
•Here's a breakdown of the key points:
What happens during a halving?
-The block reward, which is currently 6.25 bitcoins, is reduced by 50%.
-This happens roughly every 210,000 blocks mined, which translates to approximately every four years.
-The total supply of Bitcoin is capped at 21 million, and halvings ensure this limit is reached gradually.
*Potential effects on Bitcoin:
•Decreased supply: With fewer new coins entering circulation, the supply of Bitcoin becomes more scarce. Scarcity can theoretically drive up the price due to increased demand.
•Increased mining difficulty: As fewer rewards are available, miners compete more intensely for them, leading to increased difficulty in mining new blocks. This can lead to higher transaction fees.
•Psychological impact: Halvings are highly anticipated events in the crypto community and can generate excitement and optimism, potentially influencing investor behavior and price movements.
#Write2Earn #BTChalfing #Btc #crypto