2020 Bitcoin Halving: What Will The Result Be This Time?

2020 bitcoin halving, which comes every four years and executes a block reward halving and reduces the rate at which the new coins are introduced to the network will have a new effect on the number one cryptocurrency. But what will that effect be? Let’s try and find out in the latest cryptocurrency news below.

Historically, the block reward halving has led the dominant cryptocurrency to experience a large and extended rally. The data shows that the block reward halving in 2012 and 2016 correlated with other bitcoin rallies from $10 to $100 and $1,000 to $10,000. Although the historical performance of BTC does not suggest future upwards movements, many analysts believe that the asset will adhere to the previous trend and will rise in value prior to the halving.
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Due to the direct impact on the supply of the Bitcoin, the 2020 bitcoin halving is considered to be a key factor that has the ability to represent a long-lasting impact on the Bitcoin price.

On the other hand, the halving is regularly scheduled events and at that time the market could have already pushed the supply rate cut despite the fact that it is eight months away. According to the report by Greyscale which is a cryptocurrency investment firm with more than $2 billion in assets, the investors are still not familiar with the halving. The report reads:

“The halving is close enough that it’s time to start talking about it more seriously, but far enough out in the future that it’s unclear whether it’s priced into the market efficiently. In fact, based on anecdotal conversations with market participants, we were surprised to learn that many of them were not even aware of this event.’’

While it is still very hard to predict for sure how far the halving has already been predicted and priced, the behavior of the bitcoin miners show some clues. The BKCM founder Brian Kelly stated that the miners have begun to store BTC in advance before the halving because they believe it will be able to unload these coins at higher prices later. If Kelly is correct that the supply-demand curve will shift in favor of the bulls, as we read in the predictions in the altcoin news previously.