Bitcoin's halving event, in other words, the block prize is one of the most anticipated events and historically it is seen as a factor triggering the rise in price. Bitcoin's halving event, which is expected to take place on May 24, 2020, will be the third halving event that crypto money has seen in its history. For miners in the Bitcoin network, the block prize will drop from 12.5 BTC to 6.25 BTC. To date, approximately 84 percent of Bitcoin's total supply was raised to 17.6 million BTC.
Halving and Bitcoin price up 81x and 3x respectively
As part of Bitcoin's deflationary monetary policy, the currency is subject to a so-called politik halving olarak every four years. Due to the next halving event in May 2020, Twitter user @ Rythmtrader turned to the social networking platform and offered the community to buy BTC. Historically, the BTC price increased by about 81x and 3x, respectively, over a one-year period following the first and second Bitcoin cleavage.
According to Rhythm Trader, Bitcoin was $ 2,55 a year before the first halving event. To make a comparison, BTC price rose to $ 1,037 a year after the first time halving took place. Similarly, the price of the year before the second halving was $ 268. One year after the second halving, BTC was trading at $ 2,525.
Price halvening: $ 2.55
Price one year after first halvening: $ 1,037
Price one year before second halvening: $ 268
Price one year after second halvening: $ 2,525
Be prepared, buy bitcoin.
– Rhythm Trader (@Rhythmtrader) March 17, 2019
Bitcoin outperforms central banks with low inflation
Rhythm Trader tweeted and announced the importance of the Bitcoin halving event. Rhythm Trader is currently digging 1,800 new mines every day. The Bitcoin advocate stressed that this figure would be reduced to 900 with halving, which would result in an inflation rate of 1.8%. According to Rhythm Trader, this is a sign that Bitcoin's central banks are becoming less inflationary than the annual inflation target of 2%. Another Twitter user said that gold is on the same level as annual mining production.
The next bitcoin halvening is in 433 days.
1,800 new coins are currently mined every day.
That would be cut to 900, creating a 1.8% inflation rate.
Why does it matter?
– Rhythm Trader (@Rhythmtrader) March 18, 2019
Moreover, as a result of the halving event, for a scarce entity such as Bitcoin, bir any restriction on supply ucu will have a significant impact on the price. Today, Bitcoin is about 80 percent below the summit. As for the health of the Bitcoin network, after seeing a brief drop in the first half of 2018, the network activity was balanced and showed a moderate increase over the past few months. There are many theories about what effect the Halving event will have for the Bitcoin price, but the community seems confident that a bull race will take place.
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