Bitcoin Halving, Explained
Stephen O'Neal's original article for cointelegraph.com reduced by 74%
Essentially, Bitcoin halving cuts down the supply of BTC, making the asset more scarce. On Nov. 28, 2012, the day of Bitcoin’s first halving, the cpryptocurrency’s price rose from $11 to $12, and continued to climb up throughout the next year, reaching $1038 on Nov.
28, 2013. Roughly four years later, a month before the second halving, Bitcoin’s price started to follow a similar, bullish pattern. Will it be the same next time? Skeptics believe that the halving has already been priced in.
The industry has drastically changed over the last four years, as cryptocurrencies and Bitcoin in particular became an essential part of mainstream news coverage. Still, some people might be tempted to take the chance, especially given the previous patterns exhibited around Bitcoin halvings. If history repeats itself and the Bitcoin price starts going up in April 2020, even more traders might start buying the asset out of a fear of missing out, thus stimulating the demand, and, ultimately, the price.
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CN [too long; didn’t read]
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