We are less than a week from the next reward drop for Bitcoin, over time this will make BTC more scarce. During my years involved in crypto I can point to the halvings that seem to always have the most dramatic uptick in price. Its not the moment the halving takes place, but usually a few months in where price discovery moves upwards as less mined BTC are on the exchanges. Every four years this happens, its called the halving.
With rumors of BTC already being scarce that banks are buying BTC directly from miners instead of on exchanges to feed ETF inflows and such. I think this could drive price discovery to eye watering levels. source
With miner hashrates at all time highs there is no sign of slowing down for Bitcoin, and with more spot ETFs on the way in other countries for BTC this should increase volume as well. All good signs for Bitcoin moving forward.
source
I think by summertime or autumn we should see new all time highs again, its hard to say exactly when as its all up to the market. Of course there is no guarantee, but based on previous block reward drops that is what tends to happen.
For those who say it will be different this time and the halving will not have much of an effect, well it would seem like they are betting against history as all previous halving have had an uptick, why would this one be any different?
History tends to repeat itself.... How high it may go is the hardest to estimate.. but if you considered a 2.5x increase which is pretty conservative that would put the price of BTC in the $180,000 range.
Hopefully during this rally Bitcoin fees will be more stable, with the amount of infrastructure put into the Lightning network since the halving in 2020 I hope this offsets some of the traffic demand and helps scaling.
What could this mean for Hive, probably all time highs as well. Usually BTC rallies and altcoins follow. Looking forward to watching crypto for the rest of this year.
Posted using STEMGeeks
What do you think about capturing the highs now and sell. Then get back in the market again a few months after the halving? I'm getting nervous, !LOL
!BBH
@solominer! Your Content Is Awesome so I just sent 1 $BBH (Bitcoin Backed Hive) to your account on behalf of @silversaver888. (6/20)
lolztoken.com
He kept looking at me kinda sideways.
Credit: reddit
@solominer, I sent you an $LOLZ on behalf of silversaver888
(1/10)
Well it depends on your tolerance for the down side, I think its very possible we get a "sell the news" after the halving and it takes a few months to stabilize. So if you sold now you can surely buy back later, but to say it will be lower than it is now is truly hard to say.
DYOR this is not financial advise
Some might say, this will finally stabilize BTC to some extent. While that might sound correct.
Im worried from what i could see online, the vast majority of people who hold crypto see it as a speculation market where each person thinks of becoming a crypto millionaire.
If BTC losses its speculative potential by stabilizing. Many people might just sell their BTC and buy some other coins to play with.
The halvings should help the lows from hitter hitting lower.
And you are correct, most people just see bitcoin has "number goes up".. theres a lot more to it than just that.
Yeah the BTC dominance shows when people move their coins into alt coins.. but recently people have been moving more into BTC it seems.
I am just starting my path in this beautiful world, as my grandfather says, so I don't know much about the subject, I only heard that the halving will help the value of Bitcoin and the good thing is that when that happens, the value goes up. from the #hive @solominer
Oh cool, well enjoy seeing how it all plays out.. its quite the interesting world.
I was just laughing the other day with ppl just saying "this time is different" but in a sense that there would not be a dip before halving, obviously there was going to be one, banks and wealthy ppl need more and cheaper before this thing skyrocket few weeks after halving, we are on the path, this is the way
Hah yeah people keep saying that every cycle.. I think history will tend to repeat itself.
Yeehaw! This here post is just as thrilling as a wild ride through the prairie at first light! The upcoming Bitcoin reward drop has a good chance of making BTC scarcer and history tells us that usually leads to higher prices, so saddle up and enjoy the ride, partners!
Yeah man it should be a wild ride.
This will be the first time I'll see the halving up close, as I entered the crypto universe in 2021. The BTC system is fantastic, reducing its emission over time. I guess BTC will still reach 500k by the next cycle.
Oh man its a wild ride. I have been through two or three halvings now and its always a trip to watch.
Its very possible, we shall see.
Everyone is buying BTC even though they don’t want others to know just like banks. Let’s hope that Hive has a new ATH now. I’d be so glad
Holding BTC should be the biggest secret you keep.
Me too, would love to see Hive move through $3
Have you ever noticed that increasing global conflicts have a positive impact on Bitcoin?
I may be wrong, but according to my little study, every time there is an increase in tension somewhere in the world, unlike the rest of the markets worldwide, Bitcoin goes up as if investors now do not see any other safer investment option.
Yeah I have seen volatility happen during events in history, as you say people may feel safer keeping their funds in bitcoin.. or sell to have fast cash on hand.. it can go both ways.
My only regret is not getting in back when being a whole-coiner was easy. At this point, I doubt I'll ever hold a full BTC but I guess we will see what the future holds!
Ah yeah I remember when people would only count how many BTC they have in total. But now you're right its is more common to hold fractions.. Luckily Satoshi thought of this and BTC is divisible all the way down to 8 decimal places.
Absolutely. And when it comes down to it, I'd rather have part of a coin when it hits stupid high prices than none of a coin 😂
This is great
Thanks