Multiple Bitcoin Price ATHs? Binance CEO Weighs In on Bitcoin Halving – U.Today

0

Binance, one of the world’s largest cryptocurrency exchanges, has added a bitcoin halving countdown to its homepage. In his post, CEO Changpeng Zhao has hinted that the price of Bitcoin could see multiple all-time highs if the flagship cryptocurrency were to repeat previous price cycles. 
Drawing from his experience with the past three Bitcoin halvings, CZ lays out a likely sequence of events. First, the months leading up to the halving will see increasing chatter, news, anxiety, and expectations surrounding Bitcoin’s price. 
Following the halving, prices won’t necessarily skyrocket overnight, possibly leading to questions from the community about why an immediate price surge didn’t occur. 

Related
Ethereum’s Vitalik Buterin Attracts More Criticism from Cardano’s Hoskinson

However, in the year following the halving, Bitcoin could potentially hit multiple all-time highs. 
But CZ is cautious, noting that while there seems to be a pattern, “history does NOT predict the future.” Moreover, he emphasizes that a direct causation between halving and price surges isn’t definitively proven.
Amid the buzz surrounding the halving, there’s also been speculation about whether the halving might come sooner than expected. This speculation has been fueled in part by Bitcoin’s increasing hashrate, or the computational effort used to secure the network. 
Some in the community suggest that this could mean an accelerated halving schedule. However, the Bitcoin algorithm is designed to prevent significant shifts in the halving timeline by adjusting the mining difficulty based on various external factors, ensuring that blocks continue to be mined roughly every 10 minutes.

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.
Once a day we send:
Disclaimer: The opinions expressed here are not investment advice; they are provided for informational purposes only. The opinions expressed by our writers are their own and do not represent the views of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. We do not recommend investing money you cannot afford to lose.

source

Leave a Reply

Your email address will not be published. Required fields are marked *