Crypto News

Halving bitcoin in 2020: What will happen to the market?

To halving bitcoin remained little more than a week. Experts continue to argue about the impact of an upcoming event on the price of the PTS.

Views of the community were divided. Some are predicting bitcoin’s next rally, the second talking about the manipulation of whales and the imminent fall of its price.

Optimistic forecasts

Exchange CEO Binance of Chanpen Jassidae that halving bitcoin undervalued by the community, and that the PTS will start a bullish run after halving.

Bobby Lee, a member of the Board of Directors of the Bitcoin Foundation is confident that by the end of the year bitcoin will update the historical maximum and continue climbing up to $25,000. He believes that at the moment bitcoin enjoys far greater popularity than during the previous halving, so price rally will be much more powerful.

Co-founder and partner of Morgan Creek Digital Anthony Pompliano believes that the price of bitcoin will reach $100 000 by the end of 2021. He believes that the easing of monetary policy combined with alvingham 2020 will force investors to turn to assets hedge against inflation like gold and bitcoin.

Venture capitalist Tim Draper also predicts the growth of the VTS. According to him, the price will increase gradually after 6-12 months after the reduction of the award. In addition, he believes that cryptocurrency will replace Mastercard and Visa, it will be another driver of growth in bitcoin exchange rate.

Pessimistic forecasts

Co-founder of Bitmain, one of the largest manufacturers of ASIC-miners, believes that halving bitcoin will not cause a surge in prices. On the stabilization of the cryptocurrency market may take several years. In an interview, he said:

I think this time the rally can’t come immediately after halving. Most likely, this will happen with a time delay.

One of the earliest bitcoin investorblogger Ver recently stated that the decline in awards in 2020 will not cause a spike in the price, as the blocks in the Bitcoin network are almost always completely filled, unlike the previous two chalangov.

The head of the largest manufacturer of mining equipment, Bitmain Jihan Wu expressed skepticism about a possible bullish run bitcoin after his Kalinga, referring to the high volatility.

What can we expect from the market?

May 13, rewards for bitcoin miners will be reduced by 50%. The immediate effect may be a massive disconnection of miners since the profitability of mining drops. Analysts believe that this may lead to the fall of bitcoin prices in the short term. However, halving bitcoin should lead to the reduction of supply and increased demand for the asset, and therefore in the long run, bitcoin can count on growth.

Source:

forknews.io

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