Greentrades Digital Assets
2020 Could be Bitcoin's Year
GreenTrade
Publish date: Mon, 13 Jan 2020, 12:03 AM
2020 is an Important year for Bitcoin.
"The Halving" is expected to take place in May 2020.
What is the halving? It is when the reward of mining a block is halved.
For example, the first block mined has a reward of 50 bitcoins. After the first halving, there is only a reward of 25 bitcoins. We are now at the 3rd halving recorded in Bitcoin's history whereby the reward for mining a block is only 6.25 Bitcoins.
Do take note that there is only 21 million bitcoins that will be ever created.
What is one of the factors that actually moves an asset up or down? Supply and Demand!
Based on past "Halvings" Bitcoin's price have moved up significantly before and after the historic event as shown in the diagram below.
On a T.A perspective, the 6 months downtrend has come to an end. The uptrend may be just beginning in line with the upcoming halving event.
Also, for the first time in history (other than gold). We have A non correlated asymmetric asset which is not tied to factors such as the economy, news, politicians, etc etc
Disclaimer:
This is not financial advice. Trade at your own risk.
The post above is not related to the stock market. However, if you are keen to learn more about the stock market, kindly click here
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