Ok so here is our opinion from Bitmart regarding the Bitcoin halving that will take place where the block reward will be reduced from 25 Bitcoin per block to 12.5 Bitcoin.
Again were not an FSP or give advise we merely share our views and relay information already available on the internet and therefore cannot be held liable for any loss or bad investment choices anyone makes relating to Bitcoin or any other crypto currency out there.
AND WERE BACK! Ok lets talk halving. Now lots of people have mixed feelings towards the halving, we at Bitmart have looked at previous halvings that took place over the past years and especially the Bitcoin halving. Halving day 2012 (November 28, 2012) was the day of the first subsidy halving, which occurred when block 210000 was solved. Until block 420000, the block reward would be 25 BTC instead of the original 50 BTC. The price on the day of the halving was about $12.50. Half a year before that date, it was $5.10. Half a year later (7 weeks after the peak of April 2013), it was $130.
Now we expect the following hypotheses to take place: The Bitcoin Reward will be cut in half, then lots of people mining on S5 and older machines will start switching their machines off due to the reduced reward and the power costs remaining the same, this will in effect reduce the network hashrate and within 2 weeks the difficulty will come down. Once the difficulty came down the remaining miners that run S7 and better machines will be able to still earn a decent income, at the same time the supply will be reduced meaning the demand (even if it just stays the same) will increase as the supply is reduced this will in in turn spike or slowly push the price up.
Lets say the price does not increase 10 fold like in the last halving but only quadruples the following scenario will take effect. And also the difficulty stays the same (which it wont it will go down)
Based on the community votes captured this result is currently dominant:
Well folks there you have it… lets wait and see what happens. Our advice is get mining ASAP so you can horde your Bitcoins before the halving and start selling when the speculators starts buying bitcoin and force it through the roof because it will come down again…