- The halving occurred this week and there are many people out there that are highly anticipating what it could lead to in the future.
- Many people believe that the event would surge bitcoin to new highs and even though that hasn’t happened yet, never say never…
The bitcoin halving occurred this week and even though nothing has happened as of yet to the price of bitcoin, there are many people out there that are highly anticipating what it could lead to in the future. Many people believe that the event would surge bitcoin to new highs and even though that hasn’t happened yet, never say never…
Many people are going to be waiting for bitcoin to spike to these new highs but if the price remains as it is now (a.k.a. nothing significant happens), then many of the miners on the network will more than likely leave. This could result in several outcomes with the worst being the leading cryptocurrency could crash.
Earlier this week before the event took place, Vijay Boyapati took to Twitter to give his thoughts on the event and the many people who claim that it is so-called ‘priced in’.
1/ On the eve of #Bitcoin‘s quadrennial supply shock, inquiring minds are wondering whether the so-called “Bitcoin halving” is “priced in”. In this thread I will explain that it is not and it cannot be priced in. 👇
— Vijay Boyapati (@real_vijay) May 11, 2020
According to the community member, BTC is very much different from traditional stocks and cannot be valued using standard discounted cash flow analysis. The idea of bitcoin being priced in during the event indicates to information that Impax cash flow and according to him, bitcoin doesn’t have that. However, he further said:
“We do know, however, that during this cycle #Bitcoin will achieve something close to geopolitical significance in monetary terms. The world will be watching.“
It will be interesting to see how this situation plays out. For more news on this and other crypto updates, keep it with CryptoDaily!