Bitcoin Divided By Two
If you're anywhere near the crypto sphere-- or even just an ordinary news junkie-- you've probably heard about Bitcoin's upcoming halving event... unless you've been stuck under a rock or something. The last halving was on July 9th, 2016 and it occurs approximately every four years. The mining reward will be 6.25 BTC per block-- down from 12.5-- in less than a week.
But it's been a strange lead-up to the anticipated event-- Bitcoin and other currencies needed to bounce back from the COVID effect last month, as you can see in the chart pictured below-- and there is lots of other news being lost in the unusual fray...
A Lesser Known Coin
There is another halving event happening just a few days after that of BTC, and it hasn't gotten a fraction of the press... which is understandable. The token is called 1UP, and it is the currency of one of the newest and most innovative social networks on the planet: UPTRENND!
With over 100,000 members, a dedicated development team and some decent momentum at this point... it looks like it's starting to make a splash, but it's still a small fish in the sea of big news right now. And it has room to grow as an overall user experience, although they're making great strides in the right direction.
I'm liking it a lot, and I would love to see more quality content over there... so CHECK IT OUT for yourself and get involved if you like what you see. Posts and comments are upvoted by the community, and those upvotes have a corresponding 1UP value based on your member level. Your 1UPs can be withdrawn or used to level up to increase your earning rate and community presence. It doesn't cost you anything... just be genuine and consistent.
The price movement of 1UP has been similar to Bitcoin and most altcoins: a strong first quarter until March, and then recovery mode ever since. Bitcoin seems to have gotten an extra boost (perhaps because of the upcoming halving) but the chart below shows 1UP's telltale trajectory.
The halving of 1UP rewards was only recently announced and everyone seems to have different reactions... some are a bit angry that they will need to work twice as hard, but many people understand the idea that stability and growth are the real goals. To sustain the long-term economy, the flow of currency needs to be slowed over time. A stock buyback-- in which the company buys its own stock-- works in a similar way, increasing the value of all remaining shares held.
The Canadian founder of Uptrennd, Jeff Kirdeikis, has expressed his expectation that this is exactly what will happen with the price of 1UP not long after halving. He hopes it will improve the community and content on the platform as well, and I couldn't agree more.
So What Will Come of the Halvings?
Well, I guess I'm saying that these halving events should have a positive effect in both cases. That's been the story for Bitcoin so far and most other halvings... but you really never know. COVID-19 and its singular market smackdown may have done enough to damage to change the game entirely or it could be business as usual.
My 12-month prediction is:
Bitcoin will hit around $20,000.
And 1UP will reach $0.018 to $0.02.
I don't have much to invest, but I'm buying a few different cryptocurrencies right now just in case. I like XRP, BAT and a few others... so try to mix it up and hedge your bets. It is speculative after all... no one has a crystal ball and price fluctuations can be unnerving.
I feel confident nonetheless, and I do most of my hodling and position trades on COINBASE. Minimal fees at an established organization... and if you sign up through my link, you'll get $10 free on your first $100 buy. If you use another wallet, no problem at all... but I do recommend having some crypto in play for the upcoming halvings.
