The most awaited Bitcoin event in 2020 just happened and the miners reward is now 6.25 BTC. The event took place in the 630,000th block which start the new Halving, was mined by Antpool and the Block contained 3134 transactions and 0.9096 Bitcoin in tx fees. The total transaction volume in the block was 3311.62144 Bitcoins accordingly with Blockchain explorer.
So what what will happen now?!
Well the process of halving is complete and the miners reward is now 6.25 BTC, this event is happening every four years to reduce the BTC supply circulation and ensure the total supply of 21 million coins will be entering the market until 2140. Now in the market we will be watching some changes in capacity of miners to sell more BTC as they reward is cutted to half but the trading activity will remain the same.
We won't have many new BTC generated from miners leaving the exchanges who secure more bitcoins to start receiving more and more demand from the asset, the demand for BTC will be huge and the capacity to give new ones to the market by miners reduced the market could see an increase in the value of Bitcoin per unit. Of course this won't be in a magical pass, no at all, everything need some space to adjust and the BTC market also need that space and the coming days will be crucial.
This halving is gone but the market still there on fire like never before, the more enthusiasts or investors entering into the field means more demand to grab a piece of BTC, and with reduced supply to offer new minted bitcoins we could see a brand new challenge to acquire this assets on exchanges!
#stayhome and be protected from COVID-19, don't be part of the statistics take care!
*republished Article find also at Uptrennd platform from my authorship here.