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Bitcoin Halving 2020: Explanation & Price Prediction

What will happen to bitcoin after halving ...

What will happen to bitcoin after halving: CEOs of cryptocurrency exchanges know the answer
CONTENT

  • Bitcoin price will continue to rise

  • The halving date is much closer due to the increase in hash rates

  • Experts Expect Further Increase in Cryptocurrency Value

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What will happen to bitcoin after halving ...

There are only a few days left until the third halving of bitcoin. The cryptocurrency has almost reached its February highs and is trading today at around $ 9860. Crypto experts make the most incredible and contradictory predictions. Some of them claim that Bitcoin will reach a price of $ 100,000 in 2021, while others believe that the coin will collapse to $ 5,500. BeInCrypto asked cryptocurrency CEOs about what to expect from Bitcoin anytime soon.

Bitcoin will grow

The cost of bitcoin has grown by 6.7% per day and today exceeds $ 9860 per share. Experts are sure that this is not the limit: the coin will continue to grow, but it is unlikely that it will be able to show a record price of $ 20,000, as it was during the second halving..

Gleb Kostarev, head of Binance in Russia and the CIS:

What will happen to bitcoin after halving ...

– At the moment, there are positive expectations from halving in the crypto community, and many traders hope that cryptocurrency prices will continue to rise after this event. Much of these expectations are based on the post-2016 halving situation. A year after it, the bitcoin rate has grown by more than 400%. However, the situation is seldom exactly the same, so potential market overheating cannot be ruled out. It is also worth remembering that many different factors affect the rate of cryptocurrencies, including the general macroeconomic situation, local economic crises, etc. In particular, we see that after the collapse, bitcoin is recovering in price faster than many other assets. If we talk about the local situation, then in March a significant contribution to the growth of trading volumes in Russia was made by the fall of the ruble against the dollar. In April, a similar situation developed in Argentina, where the local currency is rapidly depreciating..

Sergey Zhdanov, CEO of EXMO, agrees with his opinion. Specifically, he stated in an exclusive commentary to BeInCrypto that Bitcoin price predictions are only positive..

Sergey Zhdanov, CEO of EXMO:

– Today we are on the verge of halving the main cryptocurrency. Let me remind you that every time after 210,000 blocks are mined, the reward for miners is halved. This year the remuneration will decrease to 6.25 BTC per block. At the first stages, the price for the mined block was 50 BTC. It is absolutely logical that on the eve of the halving, miners began to actively increase the volume of bitcoin production, therefore, on May 3, there was a historical maximum of the hash rate of the main cryptocurrency network. The mark approached 150 EH / S, which accelerated the date of the halving itself, which was previously expected on May 13.

As you can see, the entire cryptocurrency world is preparing for a significant event and, therefore, today many are worried about the question: “What will happen next with the value of bitcoin?” This is confirmed not only by discussions on the sidelines, but also by search queries on the Internet. So, according to Google Trends, almost 4 times more interest in halving is compared to 2016. The keen interest is backed up by historical data, as the coin’s largest growth in the history of the market took place after the 2016 halving. Of course, under these conditions, optimists predict a similar scenario. It is for these reasons that we are seeing investors move into an active position today. Thus, the volume of trading in Bitcoin futures on the CME (Chicago Mercantile Exchange) reached its all-time high of 399 million dollars (at the time of writing the comment). In fact, of course, it is difficult to predict growth similar to the growth in the previous period. But, judging by the market sentiment, growth is still in store for us. So, now is probably the best time to buy bitcoin for those who have not yet had time to buy a coin at a better price. Will the 2020 Bitcoin rally be as large-scaled, we will find out very soon.

Experts also predict that bitcoin has laid the foundation for growth of $ 40,000..

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What will happen to bitcoin after halving ...

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