Cryptocurrency
Bitcoin Halving: Bitcoin Could Be About To Make Another Major Move
As reported by Forbes, “Bitcoin traders and investors are nervously counting down to next week’s bitcoin supply squeeze, known as a halving. “The bitcoin halving will seen the number of tokens rewarded to those that maintain the bitcoin network, called miners, cut by half on May 12—with analysts divided over exactly how it will affect the […]
As reported by Forbes, “Bitcoin traders and investors are nervously counting down to next week’s bitcoin supply squeeze, known as a halving.
“The bitcoin halving will seen the number of tokens rewarded to those that maintain the bitcoin network, called miners, cut by half on May 12—with analysts divided over exactly how it will affect the bitcoin price.
“However, technical data and sentiment signals are suggesting the bitcoin price could soon make a major move.
‘The bitcoin halving is only five days away and in the lead up to this event, we’re seeing a lot of people speculating on what will happen, whether the price will go up or down, or if it will be a non-event,’ said Danny Scott, chief executive of U.K.-based bitcoin and cryptocurrency exchange CoinCorner, comparing the bitcoin halving to the build up to New Year’s Eve celebrations and warning people not to ‘focus on short-term price movements.’…
“…Elsewhere, the London-based bitcoin exchange Luno claims it will hit 4 million users in coming days—most of whom (75%) expect the bitcoin price to be ‘higher’ or ‘much higher’ by the end of 2020 according to a recent user survey…”