The Currency Analytics
By Sydney TheCMO
Sneak peek into BTC halving history
What does Bitcoin halving 2020 have in store?
Eternal law of supply & demand
Quantitative Easing for COVID-19 could help
May 2020 is surely one of the most awaited months of the year, especially for the crypto world and also for the worldwide economy in general.
The event will be hosted on May 18, 2020, and will lead to halving of the existing Bitcoin reward from 12.5 to 6.5.
Would the looming COVID-19 pandemic pose a threat to possibility of BTC price rise. Different speculations are in the air no doubt but still, if you ask me, I am positive about…
If we look back into the previous two BTC halving sessions, well, both of them have been huge turning points in the history of Bitcoin.
The second Bitcoin halving session was hosted in 2016 and the reward was further halved from 25 to 12.5.
I am not denying the speculations that Bitcoin price might remain the same after the upcoming halving.
We have the example of the esteemed BayernLB Bank that has predicted a magical rise in BTC price ($90,000) this year. Then, we also have Bitpay CCO Mr.
The argument in favor of price rise of BTC post halving goes back to the same law of supply and demand which led to price rise in the previous two halvings.
We have been worried about the economy in generally due to worldwide lockdown of regular life in the wake of COVID-19 pandemic.
With banks constantly cutting down on interests, BTC has emerged as the go-to safety asset for many.
We really don’t know what the upcoming halving actually has in store for us. But, if we consider the facts mentioned above, the May 2020 Bitcoin halving does instill hope.