After months of waiting, and long analysis of the potential effects it would have on the crypto market, finally Bitcoin’s third Halving has occurred. Lowering the miners‘ reward to 6.25 BTC per block So, after all the expectation generated by this event, today we tell you how the crypto world is dawning after the Bitcoin Halving.
What does the reduction in Bitcoin’s offer imply?
Halving finally happened
Without a doubt, among the stellar moments since the birth of the cryptomonies back in 2008, is the third Halving of Bitcoin. An event awaited by the entire crypto community, which explains the enormous media coverage it had not only in specialized media, but also in traditional media.
The previous Halves of the cryptomarket generated an important expectation among the analysts of the cryptomarket. Who, observing the behavior of Bitcoin’s price in 2012 and 2016, when the first and second Halves occurred respectively. They concluded that the most likely result of this event will be a bullish rally at BTC.
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Josh Goodbody presents his views on the Halving and the future of the „Binance Card“.
However, despite all the expectations raised around the crypto market after this Halving. It is important that we keep our feet on the ground, and understand that Bitcoin must go through a period of readjustment, after a shock as great as the halving of mining rewards.
So, we must remember that even if there is another increase in the price of cryptomoney, it will not happen immediately. The crypt market is in fact rising after Bitcoin’s Halving, with a slight decline of 1.86% in the price of BTC.
Therefore, we must try to think about the long term when we make our investments in cryptomonies. So, while the miners get used to the new situation of the Bitcoin Blockchain. And the markets are beginning to feel the effect of the decrease in the rate of increase of BTC’s money supply. Several days will pass in which we will not see substantial transformations in the crypto currency.
This means that we cannot be influenced by how the price of Bitcoin rises today. We must try to make our own analysis for the next few weeks. These will be decisive for whether the BTC will finally follow the planned route, and increase its price significantly, or whether it will continue in the same price range as before. Which makes this first post-Halving day our Tip of the Day here at CryptTrend.