So it appears the halving will take place in April of 2020. I was on a call with a friend and he was asking my thoughts on the Bitcoin Halving. He told me that someone told him it would be a non-event. So, me being the curator, decided to look back at the sentiment across the news to see what others were saying. Interesting what I found.
Let's start with the thought that it will be a non-event.
“Bitcoin halving in May 2020 won’t do anything to the price. It will be a non-event.”
-Jason Williams, Morgan Creek Digital (Cointelegraph)
I find this interesting because on Oct 20th, he was under the impression that the halving would drive us to $55,000. I wonder what has caused his shift?
However, he's not alone:
Even back on Oct 24th, Cointelegraph provided us with a contrarian view where they believe Bitcoin could dump after the 2020 halving. However, just 3 days earlier, on Oct 21st, they provided a bullish outlook.
There are those that believe there will positive movement as a result of the halving:
CCN reported that miners capitulating before the halving will be bullish, but for those with older miners the halving could spell doom. According to Cointelegraph, "Square’s mobile payments application Cash App will be buying 16% of Bitcoin’s (BTC) new supply if the company keeps buying at the same rate after the halfing if the price does not go up." However, if Litecoin is any indicator of what might happen, could we see Bitcoin tank by 60%?
So there are a list of things many will point to that will impact the halving:
- Futures (CME/BAKKT)
- Hashrate
- Whales
- Institutions
- Tether
So what do you think? Leave me a comment and tell me if you are bullish or bearish post halving :)
