What do crypto exchanges think about the upcoming bitcoin half event?

0

The Bitcoin (BTC) half-life, which repeats every 4 years, is expected to take place over the next month. Some crypto exchanges have made a statement about the Bitcoin half-life, and the consensus is that new users will come to the market after the split.

“When we look at the history of Bitcoin, we saw price increases about 1.5 years after each half, and there were also increases in the number of users,” said Dave Ripley, a senior manager of Kraken.

With the Bitcoin half split, 12.5 BTC given as a reward per block will be halved and given to miners as 6.25 BTC. Thanks to this event, which takes place approximately every 4 years, Bitcoin supply will be limited to 21 million.

Paxful Co-Founder and CEO Ray Youssef reiterated Ripley’s views and stated that this time, as in the last two halves, there will be unique fluctuations in demand and price. According to the report by The Block Research, Bitcoin rose 8000% after the November 2012 half-split and 600% after the July 2016 half-split.

On the other hand, Lennix Lai, the director of OKEx in the financial markets, said in a statement on this matter that we can call the Bitcoin half-quantitative compression. With the increasing density among miners, the miners who work most efficiently will dominate the market and demand that there will be an explosion of demand for financial products for miners.

LEAVE A REPLY

Please enter your comment!
Please enter your name here