Halving Day 2020 Make Up the Price of Bitcoin

Bitcoin / 20 September, 2019

Halving Day 2020 Make Up the Price of Bitcoin

Halving Day 2020 Make Up the Price of Bitcoin?

Halving Day 2020 Make Up the Price of Bitcoin? AADEWA There are various perceptions and predictions out there about the rise in the price of Bitcoin in the future. Yesterday,( 3 atau 14), Tom Lee from Fundstrat Garis besar Advisors said positive sentiment towards Bitcoin would begin this year. This is a turning poin towards the rise of Bitcoin in the following months. Alternatively, the concept of Halving Day Bitcoin is seen as a” crazy” way to increase Bitcoin. In these two things, many people suddenly become psychics, but it is good to taste.

  • Year of Adoption

Lees conclusion is based on a number of technical, macro and elementer analyzes. Lees talk in the mainstream alat in the United States like this is not just this once. The previous prediction was wrong several times.

Macro, said Lee to CNBC, the performance of the US dollar was quite good there in 2018. The adoption of Bitcoin by institutions also he saw had an impact on the crypto asset ecosystem, namely the decision of Fidelity Investment to launch Bitcoin store and trading services through its subsidiary, Fidelity Digital Assets.

The same thing was done by Intercontinental Exchange, the company managing the New York Stock Exchange, through the Bakkt program. These three aspects are seen as a big driver of adoption, including luar biasa inflation that occurred in Venezuela. The complicated financial situation is encouraging countries that are destitute, adopting crypto assets.

  • Halving Day party

The term Halving Day is actually not new and not only on Bitcoin, but is applied to a number of crypto assets that hold the Proof- of- Work( PoW) consensus algorithm. Following the historical pattern of past Bitcoin increases, indeed after or before Halving Day, the price of Bitcoin rose high. The third Halving Day is expected to fall in May 2020.

Currently, the price of Bitcoin is traded in the range of US$ 3, 900. The highest tingkat will be achieved by Bitcoin if we follow the cycle known as Halving Day, where rewards per block will be reduced by half every 4 years or every 210, 000 blocks. This reduction will have an impact on the overall availability of Bitcoin, so that Bitcoin will potentially become more expensive, because it allows demand to exceed supply in the market.

This reduction in rewards per block is a standard provision in the blockchain system to reduce the rate of price inflation. The system developed by Satoshi Nakamoto did indeed simulate the process of gold production and emphasize our alami character, namely: demand and supply. When an object is scarce, because its supply is limited and very much needed, the price will rise. The number of Bitcoin is limited to a maximum of only 21 million units. As of March 15, 2019, there were around 17, 589, 650 units in circulation.

The first 50 Bitcoins came into the world on January 3, 2019. It was formed in the first block or what is known as the Genesis Block. From that date until November 28, 2012, every 10 minutes( the period when new blocks emerge), there are 50 new Bitcoins. During that range, the keseluruhan Bitcoin in circulation reached 10, 500, 000 units.

Well, the first Halving Day fell on November 28, 2012. At that time the price of Bitcoin was in the range of US$ 12. 22. Here the amount of Bitcoin every 10 minutes has decreased from 50 to 25 Bitcoin only. Then the second Halving Day occurred on July 9, 2016 with the bagian price of US$ 657. 61. Here the number of new Bitcoins becomes 12. 5 per 10 minutes.