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BitcoinZAR

Bitcoin halving in May 2020

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Posted (edited)

Today marks 422 days approximately until the next bitcoin 'halving', where the amount of bitcoin that is able to be mined every day is cut in half forever. The approximate date will be 24 May 2020.

 

After previous bitcoin booms and busts in the hype cycle the uptick in the price has started to show improvement around 500 days before the halving. We are past that point, so I am hoping that there will start to be a slow steady increase in price again like there has been before. Lets see if history will repeat itself once again.

 

The Bitcoin block mining reward halves every 210,000 blocks, and this time the coin reward will decrease from 12.5 to 6.25 coins approximately every 10min in May 2020. Usually there are guys who anticipate the increased demand and the price increase that responds to the demand, who buy in advance so that they can sell when the real frenzy starts at a great profit.

I would bet that if things go like they have gone in the past, people will buy up bitcoin leading up to the halving, and might even dump a bunch before the actual date, before other guys get a chance to do the same thing.

 

Lets see how it all plays out...

EDIT:

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Edited by BitcoinZAR
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An interesting post that predicts a bitcoin price of $55,000 after the 2020 halving: https://medium.com/@100trillionUSD/modeling-bitcoins-value-with-scarcity-91fa0fc03e25


BitcoinZAR - Bitcoin South Africa community1lhxytq.pngLearn about bitcoin at https://www.bitcoinzar.co.zaJoin us on Facebook at https://www.facebook.com/bitcoinzarFollow us on twitter on https://twitter.com/bitcoinzar

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So it's a bit more, like one more year before this bubble burst at last! So many people I know put serious money into it without any real facts about it. Why it costs that much anyway still ? I just play on Forex in some ways, but never will invest in this. I always think it will fall to 0 someday.

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