Crypto 360°

Bitcoin recently marked its 10 year anniversary, and while many are currently deep in the trenches of a long and exhausting bear market, there is certainly a lot to celebrate. 2017 was a year that no cryptocurrency enthusiast will ever forget. Many have witnessed Bitcoin’s meteoric rise from under $1,000 to just under $20,000. What followed in 2018 was a substantial correction. However, the price of a single Bitcoin is still well above where it was before in its epic run in 2017. Many have speculated as to the reason for this monumental rally, but there is one event that could very well have been the primary catalyst – Bitcoin halving. What is Bitcoin halving, and why might it be significant for the cryptocurrency again in the coming months? There are many sources of information online that go into great detail about the nature of Bitcoin halving but to make a long story short: Bitcoin was designed to be a deflationary asset, it is finite in number which makes it extremely sought after, and the amount of Bitcoin created is fixed over time. Every 4 years, the mining reward is slashed in half as it reaches the total number of Bitcoins issued. As a result, inflation is prevented and the overall value of Bitcoin should, theoretically, continue to rise. It is a delicate, ingenious balance.

If history repeats as the summer of 2019 approaches, expect to see the accumulation continue for the next several months, with a steady increase in price. Once the projected Bitcoin halving price increase begins, given that speculation is the name of the game in the crypto space, the next halving will likely play an important role again in the next future price of Bitcoin. https://blog.kucoin.com/what-is-bitcoin-halving-procedure-and-predictions-sk-rd

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Crypto 360°

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