RATE Group | The $100,000 Bitcoin Halving Is Just 100 Days Away
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The $100,000 Bitcoin Halving Is Just 100 Days Away

01 Feb The $100,000 Bitcoin Halving Is Just 100 Days Away

Posted at 12:08h in Bitcoin News by

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Bitcoin (BTC) is just over three months away from having its supply cut in half — and major market commentators are unashamedly bullish on its impact.

In a tweet on Feb. 1, rating agency Weiss Ratings presented a summary of Bitcoin price performance over its two previous block reward halvings. 

Weiss: Halvings “absolutely” help BTC price

Halving refers to the number of new Bitcoins awarded to miners for each block of transactions they validate. 

During the first event in late November 2012, BTC/USD traded at just $12. Four years later, the supply halved to the current rate of 12.5 BTC per block, and the price was $652.

With Bitcoin gaining over 30% in January alone to hit $9,450, expectations are now higher than ever that the May 2020 halving will produce serious price action a lot closer to $12,000 than $12.

“So, does the Bitcoin halving help drive prices higher? Absolutely,” Weiss summarized. 

“The only question now is how high will #BTC go this time around?”

Bitcoin…

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