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CRYPTO MECHANIC
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What is halving and how it's bullish for Bitcoin? I'll tell you in a straight way. BTC halving means the mining reward for bitcoin miners will cut in half. The reward will drop to 3.125 bitcoin from the current 6.25 bitcoin. Bitcoin is the most demanded crypto currency right now. As the mining reward will reduce it will slow down the new BTC supply. Now you need to know a basic economic rule. High demand + Less supply = High prices. As demand continues to increase and there will be less supply in the market it will result in the higher prices. That's it .
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Bitcoin Update Beside holding $60k zone that i talked about in all of my BTC updates, The key area to break above is $65500-$67000 zone which is also a lower high on 4hr chart. Once price holds above it, This will likely a sign that "It's over for the bears "
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102 blocks are remaining for BTC halving so it can be today or tomorrow depending on the mining speed.
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BTC is still holding the price above $60k. Like i said before as long as the price is trading above $60k. There is no reason to call for Lower prices.
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BTC halving tomorrow . What move you're expecting ?
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