The halving is here: Will it boost bitcoin prices?

Contents

Bitcoin halving may not be immediate ...

Bitcoin halving may not immediately affect the price, says the head of Binance.US
CONTENT

  • The head of Binance.US believes that the effect of halving may not be lightning fast.

  • The upcoming event should be regarded as an indicator of the age of the industry..

  • The info noise around the halving may matter more than the reduction in the miner’s reward itself.

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The effect of the May halving may not happen immediately, but if it does, it will be a protracted cryptocurrency rally.

The head of the American division of the cryptocurrency exchange Binance.US and the former top manager of Ripple, Katherine Cowley, said that the consequences of the May halving for the price of Bitcoin may not come as quickly as many would like..

Bitcoin halving may not be immediate ...

She said this in an interview with Decrypt..

However, the head of Binance.US also believes that the May event may well have the opposite effect, as a result of which, Bitcoin will go into a long-term rally..

“In 2016, we saw that the cut in half itself did not have an instant response, but 18 months later, we experienced the largest rally in history,” Cowley said..

Buying rumors

The former Ripple top manager also believes that now is the time when the markets are “buying rumors and selling news”.

Bitcoin halving may not be immediate ...

The event itself may not be in the spotlight, but the ramifications of such close scrutiny could lead Bitcoin to a long-term rally.

Cowley suggested considering the upcoming Bitcoin event not as a short-term gain or a potential rally, but as a yardstick for how far the cryptocurrency market has come since the last halving..

The market has surged, with incredible liquidity and a variety of derivatives, Cowley said..

“I think that halving Bitcoin halving is cutting the number of new coins miners create and earn by half. This happens approximately every four years and…

Bitcoin halving may not be immediate ...

More is another step in the maturity scale, “she added..

On a halving blade

Meanwhile, according to the analytical resource Glassnode, over the past couple of weeks, a whole range of metrics have shown the growth of Bitcoin hodlers..

However, according to the CEO of the British exchange and the custodian of CoinCorner Danny Scott, after the reduction of the reward to miners, the price of bitcoin will soar to $ 20,000.

However, Messari analysts think otherwise. After analyzing the events of the past year, analysts came to the conclusion that the current situation with halving is fundamentally different from the event of 2016. Anyone who expects the hype around halving is at risk of disappointment.

What do you think? Will halving trigger the rise in bitcoin prices? Share with us with your thoughts in the comments.

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