We are few days to reach the biggest event on the Bitcoin network and the world of decentralized finances are excited neither to see what this could bring new to all Bitcoin core ecosystem and how this will move the price of the asset. Since 2009 when Bitcoin made it's appearance and started to make revolution in Global economy, many people become crypto millionaires investing in BTC.
The halvening also called halving it's an scheduled automatic event happening every four years to reduce the reward generated to the Miners(Bitcoin validators on blockchain) and analyzing the 2 past ones we could see that the price after it exploded and had a positive impact on the price of the asset. The same could happen now if we analyze the following perspectives:
- Reducing the Miners reward leave the market with more Bitcoin available to buy because this "validators" have less to sell.
- Looking also from the supply and demand perspective:
- With the cut in reward from miners supply will decrease and more people will be looking to buy BTC increasing the demand the price can go Up.
- More players getting into the crypto field when the supply decrease can also be a very positive mark to make price explode, important investors such as Institutions, millennias, boomers ...!
Going back to past halving 2 events happened on the bitcoin network from a historical view the price of the asset reached all-time new highs:
*November 28, 2012, the first Bitcoin halvening saw the price increasing from $11 to astonishing $1000 around a year later( took just less than 18 momths to break all time highs prices).
**The second event registered in July 2016 and this time the price was trading(was yet on exchanges) around $700 and in just few months later in December of 2017 the price skyrocketed to $20,000 (all-time high until now reached by BTC).
We are slowly going to the third Bitcoin halving event and the prices of the asset has been on discussion and influent Crypto figures are betting on predictions that could change forever the ecosystem surrounding BTC and make more people become wealthy, the possible millionaires thankful to Bitcoin and their capacity to Hodl and invest more to secure the asset.
Let's see what prediction on BTC price have been in cogitation!
Tim Draper.
The famous Millionaire and Bitcoin investor believes that each Bitcoin could reach to $250,000 after the halving event!
Preston Pysh.
The Buffet's Book Founder bet even higher than Draper as he believes that one BTC could skyrocket to $300,000.
Rahoul Pal.
The Former Goldman Sachs Hedge Fund manager predict that one BTC could reach and surpass the previous previsions from Draper and Pysh and Hit $1 Million in about 3 years.
The famous Silk Road founder Ross Ulbricht made a prediction back in days that BTC could hit astronomical never reached prices and be trade by $333 million each one!
Of course we are dealing with high volatile asset and prediction are based in many factors but we saw many other Millionaires being created after the past two bitcoin halvening and that situation could happen with the third one. More people are noticing that BTC could be their salvation in the finances field and based in the history the asset gained almost 4000% valorization since 2009 and if we compare with other assets like Gold we could see some astonishing results coming from BTC.
There are plenty of opportunities in Crypto and with latest crisis in global finances people are shifting their assets to Crypto and other ones are investing their savings into it, not referring the ones that are involved with cryptocurrency since it's debut in 2019 and will continue to be more richer than ever. The economy in the world potential nations are not good and anytime could break with inflation in currency getting spotted and with the US printing more money (expected to exceed $6.5 trillion this year) the world will turn batteries to Crypto.
All on this article are just possible scenarios that could happen based in Bitcoin halvening past events and are speculative with only sure that halvening will happen in about a week (7 days and counting), where reward will be cutted to half, from actual 12.5 BTC to 6.25 BTC.
GLAD YOU ENJOYED!
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*republished article find also at Uptrennd platform from my authorship here.
**Image from Twitter thread with no copyright infringement here.
