So recently, Bitcoin went through its third halving event. The rewards of new BTCs per block has been reduced by half from 12.5 BTC per block to 6.25 BTCs. This model of halving the rewards will continue until there are no more block rewards to be handed out.
The price has previously seen big rises in correlation to these Bitcoin halving events, and yet again, new investors were made aware of this fact and started reappearing after most had left at the beginning of 2018 after the big crash of BTC.
Bitcoin’s price is now hovering around $9-10k and I think everyone, including me is waiting for some big movements to happen in the coming months after the Bitcoin halving. However, we also have another side, which is that, it might not happen. That could very well lead to big disappointment and also question any correlation the halving has on the price.
So Where Will the Price of Bitcoin Heads After the Bitcoin Halving?
Are we really seeing price cycles and bull and bear markets? Or is that just a self-fulfilling prophecy? Either way, there is enough support and sentiment that have seen the price of Bitcoin rise from the low levels of $3000s and tripled to $9000+ since the big drop, and Bitcoin is today not working solo.
Today we have a bunch of new exciting blockchain initiatives and new cryptocurrencies to carry the weight, but also carry the promises of new gains. We have seen Ethereum develop and work hard to create Ethereum 2.0, and after that, we have a group of similar strong blockchains like Tezos, Ripple, Cardano, and VeChain making genuine strides.
If I could guess, then I don’t think we will see the quick and big rises in price like in the past. We are past hype and pure greed. We are still in the development phase of what blockchain and Bitcoin can accomplish. So my guess would be that we will see a somewhat more stable Bitcoin.
By stable, I mean volatility that is still 10x bigger than other markets. However, in comparison to how it was in the past, it will be a more mature and calmer Bitcoin and cryptocurrency market. So what does this all mean for everyone? I think it means that if you have a genuine interest in Bitcoin, and you might want to increase your investment portfolio to include Bitcoin or other cryptocurrencies, today is a perfect day to get involved. It means you can engage yourself in learning how Bitcoin works.
Decide what role Bitcoin as an investment should have in your overall portfolio. It is to be treated as any other investment, like stocks, commodities (gold, oil, etc), real estate. No one can accurately predict the market, so I or you can’t be sure what will happen. Also, potentially, any good news or unpredicted rise for Bitcoin, blockchain, or other cryptocurrencies like XRP could signal FOMO for new investors and old ones alike.
I can’t know for sure that this won’t happen in the next few months, but what I know I will do is not jump in head first along with the others. I am continuing to invest in BTC and others patiently according to my plan.
I believe that price cycles are things on their own or because we make them be, and I believe Bitcoin and a handful of other cryptos will have its rise again. The question Is, do you have enough time to prepare yourself before it’s too late?
Disclaimer: This article was submitted by one of our guest contributors. Anything captured in the article is purely based on the knowledge and opinion of the writer, and Stock-Crypto or any of our guest writers cannot be held responsible for any loss of money that came from any decisions. We merely present our opinion and what we know and leave the decision making in your hands.
You want to support our movement and motivate us to do more? Kindly donate here
Visit the footer section to advertise with us.