HODLERS MUST LOOK
We are coming up to the next halving in less that 34 DAYS - Est. 13 May 2020.
This event is likely to change the value of BTC as it has over the last 3 halvings. In addition to increasing public awareness and media attention around Bitcoin.
If your reading this, you have to remember that not even 10% of the global population are actually knowledgable about Bitcoin. We as early adopters need to re-emphasise to ourselves we are submerged in the Crypto Community and crypto and its philosophies are the norm for us. Whoever we are a minority, in a current niche market.
That said, why do halvings have positive long-term effects on Bitcoins price. Well, there are a lot of theories, but a common one goes down to SUPPLY & DEMAND. If fewer bitcoins are being generated, the newly increased scarcity automatically makes them more valuable. But this doesn't happen right away.
So how has this played out in the past? History shows us that it ends up being a mixture of 'miners giving up' and 'miners hodling'. Some small number of miners will indeed give up, while majority will continue to keep mining and hold.
Nov 2012
1BTC ~ $11
2013 ATH
1BTC ~ $1,100
Jul 2016
1BTC ~ $600
2017 ATH
1BTC ~ $20,000
Predictions
May 2020
1BTC ~ $7000
2021 ATH
1BTC ~ +$30,000
2022 ATH
1BTC ~ +$80,000
Especially in our current global economic outlook I can see investors looking for alternative safe heavens.
Gold and Bitcoin being chosen.
Gold because of its track record and trust as a store of value for thousands of years.
Bitcoin because of investors analysis of ROI and business opportunity in the Crypto Ecosphere.
Hope my readers are healthy and your families are safe. My wishes go out to everyone. Stay Home! :)
We are coming up to the next halving in less that 34 DAYS - Est. 13 May 2020.
This event is likely to change the value of BTC as it has over the last 3 halvings. In addition to increasing public awareness and media attention around Bitcoin.
If your reading this, you have to remember that not even 10% of the global population are actually knowledgable about Bitcoin. We as early adopters need to re-emphasise to ourselves we are submerged in the Crypto Community and crypto and its philosophies are the norm for us. Whoever we are a minority, in a current niche market.
That said, why do halvings have positive long-term effects on Bitcoins price. Well, there are a lot of theories, but a common one goes down to SUPPLY & DEMAND. If fewer bitcoins are being generated, the newly increased scarcity automatically makes them more valuable. But this doesn't happen right away.
So how has this played out in the past? History shows us that it ends up being a mixture of 'miners giving up' and 'miners hodling'. Some small number of miners will indeed give up, while majority will continue to keep mining and hold.
Nov 2012
1BTC ~ $11
2013 ATH
1BTC ~ $1,100
Jul 2016
1BTC ~ $600
2017 ATH
1BTC ~ $20,000
Predictions
May 2020
1BTC ~ $7000
2021 ATH
1BTC ~ +$30,000
2022 ATH
1BTC ~ +$80,000
Especially in our current global economic outlook I can see investors looking for alternative safe heavens.
Gold and Bitcoin being chosen.
Gold because of its track record and trust as a store of value for thousands of years.
Bitcoin because of investors analysis of ROI and business opportunity in the Crypto Ecosphere.
Hope my readers are healthy and your families are safe. My wishes go out to everyone. Stay Home! :)