Mining companies begin to take precautions in the wait for Halving
Greetings to all readers of this great platform, especially to those who make life within the great community of #ProjectHOPE, in this opportunity I want to talk about some news that I find interesting at the current time of the market, and the different decisions that are taking mining projects, which claim that they do it to wait for the halving of Bitcoin, a situation that will occur next year, which is not long away.
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Every day we observe more closely the possibility of an end of the downtrend that lasted so long in the BTC and the change of trend to the upward cycle, in addition to this some really favorable situations are expected, this mainly can become the Bitcoin Halving for next year, being this the reduction in the issuance of BTC by mining to half of what is currently issued, the less supply in the market the greater the demand and rising prices.
This great situation added to the date on which the bullish cycle should begin, and the different decisions that some mining companies started to take, we may get to observe one of the best bullish cycles in the history of Bitcoin in the crypto market, this mainly due to the sum of several factors that can greatly benefit its recovery and price in the crypto market.
Mining companies such as Hut 8, a company dedicated to Bitcoin mining, have decided to stop sales of this currency, although mining production continues in the market, but they want to wait for Halving to continue with sales, hoping that at that time the price will be much better and have a large amount of coins to supply the market, being a plan that can really leave them a lot of profits in the future.
These decisions begin to reduce the amount of Bitcoin in the market and with it to increase the demand, with all the factors to come I think the closing of the year will be great for the market and next year will be much better than previous years, in the search for a bull market after 2 years and with many positive points, it only remains to wait a little longer and observe what can happen.
I believe that the bull market will not come this year, it may be next year but only if the current wars are over, I think the company Hut 8 makes a great bet and I believe that whatever HOLD is always the best investment in this world.
god bless you