Bitcoin mining is the first step to profiting from cryptocurrency. To make the most of the currency, investors must be strategic with their crypto activities and stay on top of impactful phenomena like Bitcoin halving. A trending topic in global blockchain news today, Blockchain halving has a lot of implications on the industry.
What is Bitcoin Halving?
Bitcoin halving is a pre-programmed supply protocol that halves the rewards granted to miners for contributing a block to the blockchain. It happens about every four years, or every 210K blocks, to mimic increased challenge of real-world gold mining and keep Bitcoin’s inflation under control. Every time a miner’s hash is verified, the miner receives newly minted Bitcoin.
In 2010, the reward was 50 coins. This was halved to 25 on November 28, 2012. Fast forward to July 9, 2016, and miners began getting 12.5 bitcoins for each successful block.
Given the consistent four-year intervals, blockchain technology providers and industry insiders have estimated that the next halving will take place on April or May 2020. Experts believe that the new hash reward will be 6.25 bitcoins per block.
Speculations About the Upcoming Bitcoin Halving
Bitcoin halving is a mechanism created by the cryptocurrency’s founder, Satoshi Nakamoto, to ensure the supply is limited to a cap of 21 million. Bitcoin is a deflationary currency, which means the generation of its coins is reduced over time. Cutting the coin reward every four years by half is the best way to ensure this.
As early as the last quarter of 2019, industry experts and blockchain news sources have made bold predictions regarding the upcoming halving. These include the following:
- Bitcoin will reach its largest All-Time High (ATH) value as a result of the halving. Experts predict that it is set to breach the previous price of $20000 per coin.
- It will be the catalyst for the cryptocurrency to enter a bull market. Investors will increase soon after.
- There will be exponential growth in Bitcoin after the halving date. The cryptocurrency was shown to rally between 12,000%-13,000% in each halving.
- Bitcoin will exhibit stronger and quicker growth leading up to the first halving compared with the second one.
Prepare for Bitcoin Halving Now!
Enter the crypto market before the Bitcoin halving! Purchase Bitcoin cash or Bitcoin core and use credible trade websites to start investing. For those looking to try their luck considering the upcoming halving, here are a few tips:
- Stay on top of Bitcoin news and other cryptocurrency updates.
- Determine the best time to invest.
- Set a clear profit target before opening a trade.
Bitcoin halving will have serious implications on how you do business. Capitalise on this phenomenon now. Key Coin Assets is here to help you out. As an experienced digital asset blockchain manager, we will guide you with your purchases and help you grow your profits in the crypto space!
Call us at 0843-886-9547 for expert blockchain technology and cryptocurrency investment solutions. Contact us NOW and start to invest in yourself!