RE: Bitcoin Halving Is Upon Us! Bearish? Bullish? How It Works!
Dear @teutonium
I wonder what are your personal expectation towards price of BTC in near future?
It's exciting to see the halving unfolding! Many people consider the halving to be a bearish event short-term, but extremely bullish long-term, which makes sense.
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
Halving doesn't decrease the supply, halving just reduces the inflation, it decreases the amount of BTC being dumped on the market though, because miners won't be able to dump, if less ppl are selling and the same people are buying the buying vs selling shifts to the buying side, thus increasing the demand.
The halving can't be priced in because it's not a news, it's a shock in new supply being created, it's impossible to price-in imo.
Assuming all of this, sooner or later FOMO kicks in and fireworks happen, scarcity, less inflation, demand increasing, fireworks.
Just my 2 sats
Dear @teutonium
Very well said. However inflation is part of supply. At least that's how I've learned to see it.
ps. did you read comment by project.hope? Join our server :)
Thanks for being always so reponsive. Have a great sunday ahead,
Yours, Piotr