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A little less than a month after the fateful bitcoin halving, the major exponents of the crypto and blockchain world start debating about BTC’s price predictions, including detractors of this asset like Peter Schiff who clashed with Ripple‘s CTO, David Schwartz.
The #Bitcoin halving, the most highly anticipated milestone in Bitcoin’s development, is now less than a month away. As it's universally regarded as being bullish, lots of speculators have already bought. This risks a huge "sell the fact," as those hoping to cash in, cash out.
— Peter Schiff (@PeterSchiff) April 14, 2020
Schiff considers the halving event too bullish, pointing out that those who will benefit will only be the people who took the asset before the event, but that after the halving there will be a massive sell-off.
David Schwartz of Ripple spoke in response, pointing out that if there are many people who will start selling the asset, many others will buy it.
You're saying the halving's bullish affect on supply is priced in but the bearish sell pressure after it isn't? The reverse seems much more plausible to me, and yet still pretty implausible.
— David Schwartz (@JoelKatz) April 14, 2020
Schiff thus has the opportunity to reiterate the concept: according to the economist, those who wanted to buy bitcoin have already done so and therefore there will be no demand for BTC that many expect.
Peter Schiff vs David Schwartz vs Calvin Ayre
At this point, the debate was joined by Calvin Ayre, a Bitcoin SV supporter who explained how BTC is not the real bitcoin, and that halving will not lead to an increase in the price of the asset but there will be a bloodbath among miners. A similar opinion to the BitMEX exchange.
BTC is NOT #Bitcoin. Halvings do NOT cause prices to go up. There will be a mining bloodbath and traders how are betting against the above are also going to lose. Your welcome Peter.
— Calvin Ayre (@CalvinAyre) April 14, 2020
In short, the next halving, the third in history, will certainly have a significant impact both for bitcoin and the blockchain world, but it is still not clear in what direction they will go, given that the economic and social crises also determined by Covid19 are new and therefore it may be the case that BTC will not follow the same trend it had during the past halvings.