• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • About us
  • Write for us
  • Terms and Conditions
  • Privacy Policy
  • Disclaimer
  • Contact
  • All Posts
  • Advertise

TronWeekly

Crypto World News

  • Home
  • Education
    • Best TRON Wallets
    • Beginner’s guide to TRON
  • Opinion
    • Tron Tokens
    • Market Analysis
  • Industry
    • Tron Exchange
    • Project Review
  • Press Release
  • Advertise
  • About us
    • The Team
    • Editorial Policy
    • Write for us
    • Privacy Policy
    • Disclaimer
    • Terms and Conditions
    • Contact
You are here: Home / News / Bitcoin Halving is Much More Than What ‘Meets the Eye’
Bitcoin Halving is Much More Than What 'Meets the Eye'

Bitcoin Halving is Much More Than What ‘Meets the Eye’

April 16, 2020 by Utkarsh Gupta

Bitcoin’s 3rd halving is exactly 26 days away from the present day and over the past few days, reports have been circulating that the search volume for ‘Bitcoin halving’ is booming. The spike in search volume should not surprise anyone in the community considering this particular halving is taking place under financial conditions uncharted by the largest digital asset.

The block rewards were going to get reduced down to 6.25 BTC from 12.5 BTC and many speculated whether the BTC network will be able to cope at the current price valuation.

With search volumes for ‘Bitcoin halving’ spiking above its previous high of 2016, it is imperative to factor in the different reasons for why it might have surged over the past few days. The event could not have been the sole reason.

BCH and BSV Halving 

It can be speculated that the halving event of BCH and BSV may have turned some of the attention towards Bitcoin’s halving. Bitcoin Cash and Bitcoin SV did not exhibit a fruitful period post-halving. It was quite the opposite. The hash rate and difficulty for both the tokens suffered a massive fall and network vulnerability issues started creeping in.

The BTC community may have kept track of this development and to understand how a reduction in BTC block rewards could affect their network, users may have flocked in to comprehend the halving event in a better way.

PlanB’s Prediction

Discussions about the Bitcoin halving have been going on since 2019 and one of the narratives that picked up significant tractions was PlanB’s Stock-to-Flow model for Bitcoin.

The anonymous creator of the prediction model believed that Bitcoin’s valuation is inevitably going to increase with time as the supply decreases in the chain. His model included the characteristics of scarcity and deflation and the main argument which got everyone’s attention is his forecast based on the S2F.

PlanB predicted that after Bitcoin’s third halving, Bitcoin will cross the $100,000 mark and even though a specific time was not pinpointed, he believed it would happen between 2020-2023. That particular time window is very broad but the fact Bitcoin has followed the S2F over the years may have got the user’s attention.

The idea of Bitcoin crossing $100,000 by the end of 2020 or even by the start of 2021 seems quite impossible but Bitcoin jumped from under $1k to $20k in 2017, so optimism could be high in some BTC enthusiasts.

The Global Financial Meltdown and Halving’s Impact 

Although Bitcoin has recovered tremendously since the crash on 13th March, it was not completely out of the crosshairs. Many believed that the traditional stock market may foresee another bottom in the charts and despite breaking correlation over the past month, Bitcoin could still be vulnerable.

Historically, Bitcoin has always undergone a minor dip after the halving for the first couple of months. If another market collapse collectively takes place with BTC’s halving, the implications could be even worse and Bitcoin’s recent low of $3800 might not stick around.

Therefore, the narratives and speculation surrounding the Bitcoin halving are immense at the moment, as the event has become a lot more than just a slash of miner’s block rewards.

Filed Under: News, Bitcoin News Tagged With: Bitcoin (BTC), btc

Primary Sidebar

Recent Posts

  • TRON Founder’s Hong Kong Expansion Plan In Jeopardy? March 28, 2023
  • Binance’s New Blockchain Hub In Georgia: Web3 Education & Job Opportunities  March 28, 2023
  • Mike Novogratz Calls For Truce In Bitcoin Vs. Ethereum Rivalry: Making Love, Not War March 27, 2023
  • G7 To Stricter Crypto Regulations While U.S. Govt Faces Criticism For Missteps March 27, 2023
  • Shiba Inu (SHIB) And Theta Network (THETA) Seem Too Volatile To You? Meet Orbeon Protocol (ORBN)! March 27, 2023

Footer

News

  • Altcoin News
  • Bitcoin News
  • Blockchain
  • Tron News
  • World

Digest

  • Meet the Founder
  • Price Winning Article
  • DeFi
  • Cyber Security
  • Crypto Scam

Industry

  • Project Review
  • Technology
  • Fintech
  • Tron Exchange
  • New in Town

Tron Universe

  • Event and Tron Parties
  • New in Town
  • Tron Tokens

Follow Us

Subscribe US

Copyright © 2023 · Tron Weekly. All Rights Reserved. NOTE: Tron Weekly is an independent crypto news site that adheres to the strict journalism policy anchored on transparency, trust, and objectivity, we have no affiliation with the TRON Foundation, its founder Justin Sun or any other cryptocurrency firm.