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Halving bitcoin what to expect
Halving was programmed by Satoshi Nakamoto, but only some knows what it is. Halving is a two times reduction of miners reward for new block added into blockchain. This measure was programmed in the bitcoin network every 210 thousand blocks, that is, once every 4 years until the moment when reaching 21 million coins the issue of cryptocurrency is finished (presumably in 2140).
Halving has already been made twice in the bitcoin network. In 2012, November 28 and July 9, 2016. Thus, if at the beginning of the first cryptocurrency, miners could earn 50 BTC for adding a new block to the blockchain, then after the first halving, their reward decreased to 25 BTC, and after the second to 12.5 BTC. The next halving is expected very soon in may 2020. It will reduce the reward for miners to 6.25 BTC.
Why do we need halving?
Halving's main task is to control the issue of cryptocurrency and prevent its inflation. A good example for explaining halving was given by the Creator of Ethereum, Vitalik Buterin. Halving was compared to gold mining, when it becomes more and more difficult to get the remaining gold with each gram produced, since its reserves are limited. As a result of this limited supply, gold has kept the value of an international medium of exchange and accumulation for more than 6,000 years, and it is likely bitcoin may do the same.
Price of bitcoin and halving
Previous halvings could not have had no effect on the price and were accompanied by increased BTC volatility over the next 1-1. 5 years . The price of bitcoin could rise from $11 to $1100 or from $230 to $20,000 and fall 5 times.
Halving in 2020
The impact of the third halving on the price of the first cryptocurrency is impossible to be predicted. And the opinions of experts on this issue are also divided. Some anticipate growth, while others expect no changes.
Actually, time will show.
