Bitcoin is possibly one of the very few assets in the entire world that has been on an uptrend ever since day one.

And while this is a good thing, we are approaching the 3rd halving in Bitcoin's life.

A halving is an event where the reward for successfully mining a block on Bitcoin's blockchain gets cut into half, or 'halved'.

The idea of this is to make Bitcoin deflationary and not lose its value overtime. By reducing the supply whilst the demand remains constant or increases, we have a recipe for increasing value, as whatever is scarce has a greater perceived value.(Just look at gold)

And this idea has worked magnificently, with Bitcoin's price soaring to new highs after each halving.

It's safe to say that the same will happen this year, no?

No.

"Why?" You might ask.

And the answer is simple. 

A lot has changed since the last halving.

There are now computers that can solve complex math problems in a fraction of a second.

And while the Blockchain adjusts itself to make it harder for these computers to solve its challenges, people still use these computers to mine.

In fact, ASICs make up 100% of all mining pools if we were to count max. Gh/s.

These computers are expensive to run, and the with most miners barely breaking even with the current rewards scheme, it will be hard to create any real reason for them to continue in an unprofitable venture.

The mining network is the most important part of the whole Bitcoin mantra. That's how the BTC in your wallet even got into circulation in the first place.

And it is certain that this whole thing we have going won't be able to continue without the miners.

So while everyone clamours for a $100k bitcoin bull run, let's not forget this devil in the details.

Thanks for reading.