Just wanted to drop a quick update and share some thoughts about where we're at in the wild world of cryptocurrencies. Can you believe it? We're just 8 months away from the next halving event, and you know what that means – or maybe not, cuz you're new to crypto?
What is halving?
A halving – sometimes referred to as halvening – is a planned reduction in rewards miners receive (the term is mentioned in Bitcoin's code). Halvings happen once every four years or so – more precisely, every 210,000 blocks of transactions.
Bitcoin halving chart | Natixis
Why is it important for us?
Bitcoin halving cuts the rate at which new bitcoins are released into circulation in half. Halving acts as a way to simulate diminishing returns, theoretically intended to raise demand. And when demand rises, the price usually follows.
Another bull market?
Historically, these halvings have been like rocket fuel for the crypto market. Will history repeat itself? Could we be gearing up for another bull market? Well, nobody's got a crystal ball, but the signs are there. Look at the growing institutional interest in crypto. Big-name companies are dipping their toes in the water. There's definitely something in the air this time...
I've been through 2 halvings, been around since 2016, and I'm pretty sure that with the current inflation and global economy more and more people will be attracted to this space.
What do you think about the upcoming halving and its effect on the market? Are you accumulating while you still can? Do you think we're headed for a bull market and new record highs?
No comments:
Post a Comment