Halving Will Be ‘Non-Event’ for BTC Price: Morgan Creek Digital Exec
William Suberg's original article for cointelegraph.com reduced by 79%
Bitcoin's 2020 block reward halving continues to generate mixed opinions regarding price performance, as one analyst suggests its impact will be next to nothing. In a tweet on Dec. 1, Jason Williams, co-founder at digital asset fund Morgan Creek Digital, said that unlike many others, he believed markets would not move as a result of the halving next May.Williams: BTC halving will be "Non-event".
"Bitcoin halving in May 2020 won't do anything to the price. It will be a non-event," he summarized. Bitcoin's block reward halving will reduce the amount of BTC paid to miners for each block from 12.5 BTC to 6.25 BTC.
As Cointelegraph reported, the event is broadly expected to become a catalyst for a bull market. Anthony Pompliano, a fellow Morgan Creek Digital co-founder well-known for his Bitcoin advocacy, previously implied that at $7,200, BTC/USD has yet to benefit from the halving. "The Bitcoin halving is not priced in," he tweeted on Nov.
10. According to a historically accurate Bitcoin price model the long-term impact on the halving is all but assured.
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