Quote from: gabmen on January 28, 2020, 09:13:25 AM

Quote from: Images21 on January 28, 2020, 08:22:53 AM

Quote from: abdulfatah.busari on January 27, 2020, 11:02:50 PM

Hi guys.
No doubt about the fact bitcoin halving will definitely be coming up this year.
What do you make up of that event?
What do you think It is gonna be its effect in the price.?
Will you suggest accumulation of bitcoin before the event?

BTCCheersBTC

Halving is supposed to be for the limitation of mining rewards. This is the same with the actual mining of precious metals and stones. The longer the mining is being done, the scarcer the reward goes because there is only limited resources. Just like Bitcoin, there are limited number of Bitcoins to be mined. Due to this, the value will also grow because of scarcity. This is in theory. In reality, the price is still determined by the public.

Well the public seems to be interested only in what happens to the price before and after this event takes place. More than understanding how and why it happens, a lot us prefer to look at previous halvings and make up speculation that compare this year's and the ones that took place in 2016 and 2012. Though you've put it quite simply there dude.

If the public is interested in the price that could be brought due to halving, there is a possibility that they will choose to HODL instead of sell their Bitcoin. It is because they believe that halving will bring some nice pumps. Especially if they compare the upcoming halving with the previous halvings, they might believe that there is price increase due to it. And as a result, if the majority has the same mindset, there will be a price increase. They're the public after all.