One of the most exciting events in the crypto space is less than two weeks away. The event is at the very core of what makes Bitcoin valuable: predictable, deflationary money supply. This event is the Bitcoin halving.
What is Bitcoin Halving?
New bitcoins are issued on the Bitcoin network every 10 minutes. Around every four years the reward a miner receives for mining a block on the Bitcoin blockchain, is cut in half, keeping BTC inflation in check. This took place on 12 May 2020 to be specific.
How will the halving affect the price of Bitcoin and more importantly, DCX10?
As the price of BTC is determined by supply and demand, logic dictates that as supply gets constrained, all else being equal, the price will rise. Historically, the halving events mark upward “price steps” clearly, correlating with (and likely confirming) this argument.
DCX10 has outperformed BTC in every major uptrend and since the same drivers are still in place, it is likely that history will repeat itself.
Sentiment has turned bullish since “Black Thursday” on March 12th when the coronavirus induced crash sent global markets reeling. The price of DCX10 is up near 100% from its low since.
Interestingly, Google searches for the bitcoin halving have already exceeded the 2016 peak despite almost no mainstream media coverage, signalling retail interest.
A word of caution though. Bull runs did not immediately follow past halvings. The peaks in past cases came over a year later. Anyone expecting immediate results from 2020’s halving could be disappointed, even if history repeats itself perfectly.
In the long term, the deflationary benefits of Bitcoin are sure to play out - the significance of the event cannot be understated.
#GetOffZero #Hodl
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