Bitcoin next halving is coming up
We would like to share with you some information about an important event that will take place at the turn of May and June 2020. It' s about the third halving of Bitcoin.
What is Halving? This is the moment when the speed of generating new Bitcoins is halved. The exact point is that the block reward is halved, so after each halving of a Bitcoin, miners start receiving 50% less BTC for digging up a block containing transactions in the Bitcoin network. The aim is to reduce the Bitcoin inflow. This takes place on average once every 4 years.
This year's Bitcoin halving will be the third one in history. It is worth to look at the impact of these events on cryptocurrencies prices. Calculations show that each halving was followed by a significant increase in Bitcoin's value even by over 4000 percent. After the last halving, which took place in July 2016, Bitcoin was worth $650. A year later, the price was over $2,500. In December 2017, the Bitcoin price jumped to a record high of almost $20,000.
What will the situation look like after this year's halving? We'll find out in the nearest future. However, it is worth keeping in mind that many investments, trading, and crypto experts predict that 2020 will be a very successful year for Bitcoin. Some of them predict that by the end of the year the price of Bitcoin could reach $100,000 or even more.
Bitcoin's recent ratings show an increase in its value. Are we facing a repetition of the situation a few years ago?
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