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📺 Halving Video 👉 https://www.youtube.com/watch?v=M7UfwipG2X0
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⏰ Time Stamps ⏰
1:35 What is the Halving?
4:00 Why are BCH, BSV & BTC Similar?
4:55 Bitcoin Cash Halving
7:10 Bitcoin SV Halving
9:26 Why Bitcoin Could be Different
11:56 What Could happen with Bitcoin
13:18 Price Impact From Previous Halvings
15:58 Price Potential Now
18:52 Conclusion
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⛓️ 🔗 Helpful Links & Sources 🔗 ⛓️
► Stock to Flow:
https://medium.com/@100trillionUSD/modeling-bitcoins-value-with-scarcity-91fa0fc03e25
► Normalized Miner Income: https://fork.lol/reward/dari/btc
► Halving Countdown: https://www.bitcoinblockhalf.com/
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🗞 News Stories 🗞
► Miner Exodus: https://cointelegraph.com/news/bitcoin-cash-halving-results-in-miner-exodus-and-profitability-decline
► Halving Epic Fail: https://magazine.cointelegraph.com/2020/04/11/bitcoin-forks-halving-epic-fail-moon-lambo-nailed-it/
► Halving Costs Miners: https://www.theblockcrypto.com/linked/61657/bitcoin-miner-revenue-after-halving
► Difficulty Adjustments: https://twitter.com/100trillionUSD/status/1194386816012619777
► IMF Downturn Prediction: https://www.nytimes.com/2020/04/14/us/politics/coronavirus-economy-recession-depression.html
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🤔 What is the Halving? 🤔
The halving is a protocol defined adjustment that will see block rewards cut in half. Block rewards are the Bitcoin awarded to miners for verifying transactions.
These are new Bitcoin that are minted and hence add to the outstanding supply. As the block rewards halve, so do the ongoing supply been added to the Bitcoin network.
The mining reward halves every few years and will continue to halve going into the future.
💸 Bitcoin Cash Halving 💸
It took place on Wednesday the 8th of April at block height 630,000. In the immediate runup to the event, the price reached just below 280 dollars.
Immediately post halving something else happened. Miners turned off their machines and hashing power fell.
Right after the halving, the cost to conduct a 51% attack on the Bitcoin Cash network dropped to just under $6,000 per hour. The price also started to fall and has been falling since.
💸 Bitcoin SV Halving 💸
Like BCH, there was as a run up in the price of BSV prior to the halving where it reached a high of $221.
Just prior to the halving, the hash rate on Bitcoin SV was at 3 exahashes per second.
The day after the halving, this had fallen to less than 1 exahash per second. This then drove the cost of conducting a 51% attack to below that of Bitcoin Cash at only $4,000.
Less hashing power also had the impact of driving down the block propagation speed and hence the transactions per second.
BSV also had a price fall.
🤓 Why Bitcoin Could be Different 🤓
The original Bitcoin remains the most well known and garners the most interest. Over the past few months, interest in the Bitcoin halving has eclipsed that of Bitcoin Cash and Bitcoin SV
It remains in the portfolios of nearly every crypto focused hedge fund or crypto whale. It is hashed by nearly every big mining pool and farm in the world.
🤔 What Could Happen with Bitcoin 🤔
I do think that we will see a hashpower fall of some sort. Many of the marginal miners will switch off those machines.
As the difficulty comes down, hashpower could come back online and we could see a recovery of some sorts.
What happens depends on what happens pre halving. If there is a lot of speculative buying pre halving we could see a highly inflated price which prior. Then it could retrace post the halving as the hype subsides. However a rally could come when supply / demand imbalances come to the fore.
If it is slightly similar to the 2012 halving with not that much of a rally in price then we could see it trade rangebound after the event. It could eventually rally within a few weeks after that as the same supply / demand imbalances are realised.
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📜 Disclaimer 📜
The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading Forex, cryptocurrencies and CFDs poses considerable risk of loss. The speaker does not guarantee any particular outcome.
#Halving #Bitcoin #Crypto #Trading #BTC #bitcoincash #BSV #BCH
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