Trader: Bitcoin And Ethereum’s Block Reward Halving Will Create Bullish Momentum (ccn.com)
A trader with an online alias “Moon Overlord” suggested that given the historical performance of major cryptocurrencies, the block reward halving of Bitcoin, Litecoin, and Ethereum could allow the three digital assets to recover strongly in the mid-term.
A trader said that the halving of Bitcoin and Litecoin’s block reward and the decrease of Ethereum’s block reward by 33 percent could create a bullish momentum in the crypto market.
“LTC is halving in august of this year ETH is reducing it’s block reward by 33% in February BTC is halving in a little over a year. Block reward reductions and halvings are the most bullish events in crypto history, it’s time to pay attention and start accumulating,” the trader added.
Bitcoin is expected to see its block reward decline by 50 percent by May 2020, which will decrease the rate in which new BTC are mined by miners.
The block reward halving will limit the circulating supply of BTC. If the demand for the asset remains the same or increases, it could have an impact on its price trend.
Original article reduced by: 75%
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Related story: Bitcoin Approaches $3,500 As Top Cryptos See Mixed Signals (cointelegraph.com)
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CN [too long; didn’t read]
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