Skip to main content

Is it different this time around for BTC?

The soon to be halving event scheduled on, or after April 19 in BTC has been covered here in many previous updates. That means the number of new coins available to miners will be reduced by 50%. This event has taken place 3 times previously every 4 years, commencing back in 2012. On each of those previous occasions the price of BTC was substantially lower, off its highs and much lower than the price increase subsequent to the halving event. However, right now BTC has been setting records ahead of this one. Granted it is off the top this morning, but still close to all time highs just now. So, the question as to whether this event is priced in right now remains open. In previous updates, it has been noted; that many analysts expect BTC to double once that halving takes place, but the truth is that it has already more than doubled over the past few months. The main reason for that is because of the ETF licences that have clearly, massively increased retail investor demand. So, will that demand rise again, when supply becomes even more restricted? The truth is that demand actually has little to do with the reduced supply, but the reduced supply will increase the price, if that demand remains strong. So, in that sense it is an increasingly cornered market, but increased demand will remain the key to further gains. If that is not forthcoming, then it may stutter. Bitcoin is currently trading at 69,395 

Ready to Get Started?

Start here. Join 2.9M Libertex users around the world!