RE: Let's talk about Halving - An important point within the world of cryptocurrencies
Dear @josevas217
I wonder what are your personal expectation towards price of BTC in near future?
Many people out there seem to expect price of BTC to increase after upcoming Halving. And I'm trying to understand if those are not mostly ... just lovely wishes.
After all, we should ask ourselfs a question: how Halving would impact demand and supply?
Based on my knowledge, supply will decrease. That's the fact. so there may be less bitcoins dumped on the market by miners. Which will surely reduce selling pressure.
However, it doesn't mean that demand will increase. Am I right? So at the end of the day BTC price has higher chance to continue upward movement, but I wouldn't expect FIREWORKS.
ps.
Also I'm wondering, if halving isn't already priced-in. In the past not many people seemed to know about halving, so for many it came as a huge news. News which could bring some hype and switch on FOMO.
Currently many seem to be expecting similar market behaviours. And that's a major difference between now and past. Wouldn't you agree? Just curious what do you think.
Yours, Piotr
Hello friend @crypto.piotr
I answer you first by saying that, I think that everything that has to do with big markets will be dominated more by big investors than by the masses. In the specific case of cryptosystems, whales determine most of the trends.
I start with that, because there is no doubt that large movements of capital directly influence the price, a rumor also affects it, and the owners of large communication empires use that to manipulate not only the masses but the markets, and move them in their favor.
My expectations regarding the price of the BTC, is that I have no idea ha ha
These last days the price has gone up, possibly because the HaLVING is coming, but I see that several things could happen:
*The price is really going up, because more people know about the BTC from all the information that's circulating, more capital is being injected and it's driving it.
I also know that there will be many miners who will no longer be able to work, because their mines will not give a profit margin due to the difficulty that will exist after the halving. This will give power to the big mining farms. This on the one hand can drive the price up, and make it so, but the opposite can also happen.
Another option is that with the halving they inflate the prices, so that later big investors get good profits and when withdrawing the price it goes to the floor.
It could happen that there is a more and more massive adoption of the use of crypto-currencies, however, I consider that there are other currencies that provide more facility for its use, and the transactions are faster, for example DASH, that even without internet, using bluetooth allows to make transfers.
So, I see several scenarios in relation to this event. But I am still a believer in cryptomonies and blockchain.
Dear @josevas217
What an amazing comment. Seriously love it. I've finally managed to catch up with old comments. Thx for yours.
Have a great sunday ahead,
Yours, Piotr