u.today
Today Crypto Twitter is excited by two news reports. While the implementation of the Bitcoin emoji may only trigger FOMO between newbies, the second milestone is of a greater importance for the global cryptocurrency community.
These 100 days will be turbulent
On February 2, 2020, many analysts, traders and crypto enthusiasts announced that there are only 100 days left before the third Bitcoin halving. Thus, it will occur on May 12, 2020, in the early morning hours.
By the way, the exact time of the third Bitcoin halving event may be brought forward due to the fluctuations of the network speed. Some countdowns, e.g., the one by Binance Academy, suppose it will occur on May 13, 2020.
The halving is a periodical pre-determined event in Bitcoin network that reduces the rewards for Bitcoin miners by 50%. While today the reward for one BTC block mined is 12.5 Bitcoins, after the third halving miners will get only 6.25 BTC.
As a result, some low-performance miners may capitulate (unplug their rigs) because of the expected financial losses.
But what about the price?
Nobody can predict the post-halving Bitcoin price. Since the second halving occured in 2016, the upcoming one will be the first шт the epoch of blockchain mass adoption. As U.Today reported previously, people worldwide are now searching for articles on halving 13 times more frequently than they did four years ago.
According to some theories (e.g. 'Stock-to-flow' calculations), the next halving can make the price skyrocket to six-digit spaces very soon. However, some analysts are sure that the price won't be affected by the anticipated event.