Tough times don’t last, only tough people do.
This was the mantra that I was telling singing to myself this week. But like the title of this series is buying low & selling high, when things decreased in price I bought more. In the stock market , I rarely sell because of the dividend payout. In my cryptocurrency portfolio none of the coins I have equity in pays a dividend, which is such a bummer.
This week I learned a new term- “Bitcoin Halving”. Apparently, we’re due for a another bitcoin halving this month. I’m sure you’re wondering what “bitcoin halving” is.
Bitcoin halving 101
As many know, Bitcoin’s (BTC) supply is limited. Once 21 million coins are generated, the network will stop producing more. That is one of the main reasons Bitcoin is often referred to as “digital gold”. This is a process that happens once every 4 years.
The most recent bitcoin halving that we’ve experienced was in July 2016. Within a year the price of a bitcoin increased 2,000%, which is almost unheard of.
This was not my best week in the cryptocurrency market. Earning just under a 10% return this week. Last week I stated that Ethereum is my favorite for this week. Unfortunately it’s no longer my favorite for this week as Bitcoin had a 16% increase this week
Do you think Bitcoins price will continue to rise?
Let’s see if the 2020 bitcoin halving will have a greater impact on the price of bitcoin.