Halving or ‘halvening’ happens every few years – as soon as new 210,000 blocks are mined. When it takes place, the rewards of miners are cut down in half. As per the recent Bloomberg article, crypto bulls are already rubbing their hands in anticipation.
Bitcoin miners’ reward will diminish
The reason is that after the previous two
halvings Bitcoin quotes showed an extensive surge, bringing traders more than
What happens at a halving is that the amount of coins that miners get for using their computation power to verify transactions gets cut by half.
Crypto community expects a major bull run
A recent Twitter poll shows that among 2,500 voters, 61% expect BTC price to demonstrate a major rally. Since the award will be cut down by half, fewer Bitcoins will be released in circulation, which will make the coin scarcer than it is now, thus the price should go up.
Crypto experts agree to differ
Major Bitcoin bulls, writes Bloomberg, such as
Anthony ‘Pomp’ from Morgan Creek Digital, have been drawing attention to the
2020 halvening, emphasizing its importance.
Gil Luria from DA DA Davidson & Co thinks
“There are so many factors that impact the price of Bitcoin, but this should not be one of them.”
The post Bitcoin Bulls Count on 2020 Halving to Give BTC Price Massive Push: Bloomberg appeared first on Ethereum World News.