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RE: Countdown to the BTC HALVING 2020

in Project HOPE4 years ago

Dear @fucho80

I'm also very curious what will happen after may 2020. However I wouldn't really expect any serious change and probably price movement will be determined by either hype or FUD.

The fact that miners will start receiving less rewards may reduce selling pressure (will it?) but surely it doesn't mean that buying pressure will increase.

All those predictions are worthless since they were all made before corona virus became a real problem. It's a huge black swan - the biggest in our lifetime. And it's already crashing world economy. And that will cause uncertainty. Some investors will move their resources into assets like gold, silver and perhaps crypto. But will it be enough to make a difference? Can BTC reach levels of 100$?

I hardly doubt so. On the way to such a high level we would witness enormous amount of investors taking the profits and moving to other assets. BTC worth 100$ would be considered a huge bubble and to get there we would need more hype and less fear. And right now fear is very visible.

So again: I don't expect much of a difference after halving. Not this year. Perhaps short term hype and then ... taking the profits.

Due to this event there is a deflationary effect, and he expects that it will result in the increase in the price of Bitcoin,

I would definetly expect that many miners will go bankrupt.

Solid read. Upvoted already,
Yours, Piotr

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Friend @crypto.piotr, thanks for being here.

Once again you make a very focused and coherent analysis of the situation. It is true that the effects on the world economy because of the coronavirus are being felt and that the scenario and conditions are not the same as in the past when the previous reductions happened and all of that has a direct impact on the final result.

I'm also curious to know what happens after this.

I think it will definitely influence prices, but not in the way some predict, that's crazy.

Just wait.

 4 years ago 

I just realized that I never actually thanked you for your comment. Big thx.
Cheers, Piotr

Ok friend, we are here to support you.

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