20 days to go to the next bitcoin halving
According to the Twitter account "Crypto Bull", after the mining activity has completed this Tuesday, April 21, the 627,000 blocks processed, the date for the next Bitcoin halving is scheduled for May 11.
According to the Twitter account "Crypto Bull", after the mining activity has completed this Tuesday, April 21, the 627,000 blocks processed, the date for the next Bitcoin halving is scheduled for May 11. The next bitcoin halving will occur when the 630,000 block is completed, so there are only 3,000 blocks left to be mined before the long-awaited event occurs. The expectation is maximum and speculation of the consequences that halving could have in the future of Bitcoin is increasingly agitated.
As we have already explained on BitcoNews, halving is an event that occurs every four years within the Bitcoin network in which the rewards that miners obtain for completing mining blocks is halved. Consequently, the creation of Bitcoin is reduced by 50% every four years so Bitcoin can be characterized as a deflationary cryptocurrency. Only twenty days until the third bitcoin halving becomes a reality. Most crypto market specialists and analysts have a positive outlook regarding the future of the cryptocurrency: according to them, the price of Bitcoin will appreciate after its supply is reduced. The argument behind this theory is simple but real: by cutting Bitcoin's constant supply in the market in half, only the current demand level should force the price per monetary unit to rise; and even more if the demand increases after halving.
However, not everyone is optimistic about halving. One user replied to the post of "Crypto Bull" stating that: "[The price] will go up until the day comes, do you really think that after halving Bitcoin it will increase? In my opinion, the day of halving nothing will happen except disappointment " The halving may not have an immediate effect on the price of Bitcoin, but undoubtedly in the medium and long term it would be logical to drive the price up as it happened with the two previous halvings of 2012 and 2016 in which the price of Bitcoin experimented significant bull markets.