• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news today, price & technical analysis
Price & Market
Cap Data from
Nomics Logo
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Gamble +Try
No Result
View All Result
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Gamble +Try
No Result
View All Result
NewsBTC
No Result
View All Result
Price & Market
Cap Data from
Nomics Logo
Home Cryptocurrency news Bitcoin

Bitcoin Price Drops Again as Halving Inches Closer

newsbtc by newsbtc
5 years ago
in Bitcoin
Reading Time: 3min read
NewsBTC_Bitcoin Price Halving
Advertisement

The upcoming Bitcoin halving has been a subject of great debate and excitement. While the block reward will be cut in half, the number of newly minted coins per day will decrease. Bitcoin miners, on the other hand, will earn less money, depending on how the Bitcoin price evolves. But so far, it seems like market movers are pushing the Bitcoin price down, rather than up.

Bitcoin Halving Does Not Deliver On The Hype

A lot of people assumed the Bitcoin halving would force the price upwards. However, that will not necessarily be the case. In fact, as we get closer to the block reward halving, the price of Bitcoin continues to dip even lower. This is not what most people had anticipated, although it is anybody’s guess as to why this is happening.

What the upcoming Bitcoin halving will do is reduce the number of new coins being introduced to the ecosystem on a daily basis. The current block reward is 25 BTC, which will be lowered to 12.5 BTC. However, the blocks will still be generated roughly every ten minutes, introducing roughly 75 Bitcoin per hour for the next few years.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

This does not mean the existing Bitcoin supply will become more valuable by definition. Granted, a lot of people feel the current price is a fraction of what it could – or perhaps should – be. But the halving will not do anything to the existing supply, and a price increase is not guaranteed by any means.

Most people still see Bitcoin as an investment vehicle. While the cryptocurrency has a fixed supply and distribution model, most investors tend to overlook it. Everyone who wants to get invested in Bitcoin should realize there will only be 21 million coins total, a number that will not be reached in the next 100 years. But whether or not that warrants a price increase, is anybody’s guess right now.

There is a likely chance this downward Bitcoin price pressure stems forth from the Chinese market. Investors want to buy some extra coins right before the halving, in the hopes of the value shooting up. If that will be the case, they are on the right track to make a healthy profit in the coming weeks.

Bitcoin Price Future Remains Uncertain

The Bitcoin price market is primarily dominated by the Chinese investors. Nearly 90% of daily Bitcoin trading volume originates from this region alone. WorldcoinIndex shows there is some healthy trading in the USD market as well, albeit the numbers pale in comparison to their Chinese counterparts.

While most people are still hopeful the bitcoin price will go up once the halving happens, it remains to be seen what the outcome will be. No one would mind a price increase, as long as it is sustainable. The last thing we need is a repeat of what happened in 2013.

Source: WCI

Header image courtesy of Shutterstock

Tags: bitcoinBitcoin Halvingbitcoin pricecryptocurrencyNewsOpiniontrading
TweetShare
Nexo Logo
BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner? Win up to $1,000,000 in One Spin at CryptoSlots
newsbtc

newsbtc

Related Posts

bitcoin collateral

Summing Up The Case For Bitcoin As The Future Of Collateral

9 hours ago
Bitcoin Hopes to Retest Record Highs After Powell’s Testimony; Here’s Why

Bitcoin Hopes to Retest Record Highs After Powell’s Testimony; Here’s Why

21 hours ago
bitcoin btc

Bizarre Bitcoin On-Chain Correlation With Fear And Greed Index Discovered

1 day ago
Bitcoin Makes a Go at $40,000 amid “Risk-Off” Trade

Bitcoin Makes a Go at $40,000 amid “Risk-Off” Trade

2 days ago
bitcoin crime

Iconic Trader Warns Bitcoin Holders Of Executive Order Banning Gold

2 days ago
Bitcoin Drops After Record-Setting Rally; Is Bearish Bias Returning?

Bitcoin Drops After Record-Setting Rally; Is Bearish Bias Returning?

3 days ago

Premium Partners

Top Brokers

eToro

eToro

Review · Visit
Evolve Markets

Evolve Markets

Review · Visit
ArbiSmart

ArbiSmart

Review · Visit
PrimeXBT

PrimeXBT

Review · Visit
Moneta Markets

Moneta Markets

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bonusfinder DE

Bonusfinder DE

Review · Visit
Bspin

Bspin

Review · Visit
Wolf Bet

Wolf Bet

Review · Visit

Top Sportsbooks

1xBit

1xBit

Review · Visit

Press Releases

Oxygen Protocol to List OXY Tokens on BitMax

February 24, 2021

HOPR Hosts Global Token Launch Event on February 24th after First-Of-Its-Kind DAO Experiment

February 24, 2021

Egoras- a Decentralized Finance Ecosystem for Growing Markets!

February 23, 2021

Newsletter Signup


ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Auto Trading Software ▸

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2020 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Trade
  • Gamble +

© 2020 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.