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Bitcon Has A Hidden Power That Could Take It To The Moon Soon

Market Slump Returns Bitcoin To 5k Support, But All Is Not Lost

Bitcoin

Bitcon Has A Hidden Power That Could Take It To The Moon Soon

A quick glance at Bitcoin’s price charts spanning the last one year indicates that the ride has been quite bumpy for the top crypto, but that’s not to say that the world’s premier cryptocurrency doesn’t have some going power bottled up within it. In fact, if things work as expected, Bitcoin could soon be worth tens of thousands of dollars.

What exactly will make that happen? A pending event within the Bitcoin network that many have come to dub as the “Bitcoin weapon.” This is something that has happened in the past, and results are always bullish for Bitcoin. This time may not be so different.

“Bitcoin Weapon”

Every few years or so (about 4 years), the Bitcoin network undergoes something known as “halving” whereby the miner’s rewards are slashed by half as the coins get scarcer.

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The immediate result is that as the number of mined Bitcoins reduces as the network approaches the 21 million coin finish line, the demand increases and the price skyrockets – a very fair development as scooped out from the books of demand and supply or market forces.

The Timeline

The next Bitcoin halving is expected to happen around May 20, 2020. However, it’s not the event itself that’s as peculiar as what happens to the Bitcoin price right before and after the halving.

As has been witnessed in the past events, Bitcoin’s price starts gaining steam about a year before the main halving event, and then staging a huge rally right after halving and going into weeks.

Many crypto analysts see the coming halving as no different from the previous ones. In this sense, many expect Bitcoin to start a mini rally around May 2019 as the market builds up steam pending the 2020 event.

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Could this halving be the ultimate top moment for Bitcoin, given that there remains only a few million coins left to mine before the 21 million cap is depleted?

Nick James is a cryptocurrency writer and editor with up to a decade in the finance world. He has written for Forbes, Cointelegraph, Ethereum World News, Independent Republic, Zycrypto and many others.

1 Comment

1 Comment

  1. Jackus Blackus

    March 11, 2019 at 8:09 am

    “as the coins get scarcer.”

    That is a total misunderstanding. Even with the halvings, the number of bitcoins is always increasing toward the limit of 21 million. They never get scarcer.

    “the demand increases and the price skyrockets”

    The halving does not affect demand (except by the people that believe in your misconception).

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