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10 Steps
One good explanation is that fewer and fewer bitcoins are hitting the market.
1800 new bitcoins are generated each day to feed the miners that safeguard the bitcoin network.
However that hasn’t always been the case.
Every 210,000 blocks, the reward is cut in half.
This on average takes a little less than 4 years.
Until late 2012, the bitcoin algorithm allowed for 6400 coins to be generated each day.
But then in November 28, 2012, production was cut to 3600 coins. At that time, the price of bitcoin was $12.22
On July 9th 2016, production was cut to 1800 coins, and the price was $657.61
the next halving is expected to take place on May 11,2020
Is there any evidence that halving events have any influence on the Bitcoin price ?
If we look at historical monthly prices, the answer seems to be yes
In the 12 months before the 2012 halving, bitcoin rose from $3.06 to $12.56 an increase of 410%.
In the 12 months after the 2012 halving, bitcoin rose from $12.56 to $946.92 an increase of 7537%.
In the 12 months before the 2016 halving, bitcoin rose from $280.04 to $607.37, an increase of 217%.
In the 12 months after the 2016 halving, bitcoin rose from $607.37 to $2734.59 an increase of 450%.
So far, so good. If we are holding bitcoin during those time periods, we are doing very well.
But what if we are holding bitcoin during the “dead” months when the halving events are nothing more than a distant memory, and the next halving event is more than a year away?
You will notice the first “dead” zone is comprised of 24 months while the second “dead” zone is only 22 months. That’s because we are just now entering the one year waiting period before the next “halving” event.
That is to say, because of the build out of bitcoin miners over the last few years, the time period between halving events is getting shorter.
In any case:
Price of bitcoin at the beginning of the 2014-2015 dead zone was $946.92, and at the end, $376, a decrease of 60%.
Price of bitcoin at the beginning of the 2017-2019 dead zone was $4950, and at the end, $8553.13, an increase of 72%.
BITCOIN IS THE NEW GOLD –
To me, the most interesting pattern is that during the “dead” zones, there were eight separate times that the price of bitcoin dropped more than 30% in one month.
During the “happy” times, (one year before and one year after halving), the price of bitcoin dropped more than 30% only once.
Coincidence? I will let the reader be the judge.
But the data is suggesting that the good times are just starting to roll.
Litecoin is also having a halving on August 5th, 2019
Following the same scenario as described above, there is a good chance that the value of Litecoin will increase after the halving in August of this year.
After the Litecoin halving in August 2019 we could see increase in the value of Litecoin
Time will tell
If you are going to mine, it is important to understand Hash Rate and just how fast you are solving sums.
The faster you go, the more you will mine.
DECIMALS
1 kH/s is 1,000 (one thousand) hashes per second (Kilo)
1 MH/s is 1,000,000 (one million) hashes per second (Mega)
1 GH/s is 1,000,000,000 (one billion) hashes per second (Giga)
1 TH/s is 1,000,000,000,000 (one trillion) hashes per second (Tera)
1 PH/s is 1,000,000,000,000,000 (one quadrillion) hashes per second (Peta)
1 EH/s is 1,000,000,000,000,000,000 (one quintillion) hashes per second (Exa)
1 ZH/s is 1,000,000,000,000,000,000,000 (one sextillion) hashes per second (Zetta)
1 YH/s is 1,000,000,000,000,000,000,000,000 (one septillion) hashes per second (Yotta)
NVIDIA GPUs BOOTING
Charlie Lee:
BTC Is “Gold”, LTC Is “Silver” And XRP Are “Diamonds”
In an interview with the Chinese website Jinse.com,
Charlie Lee, the founder of Litecoin, discussed his decision to sell his Litecoin.
He also compared Bitcoin as the closest thing to digital gold,
Litecoin as digital silver because of the faster and lower cost transactions,
and Ripple to diamonds because of its extreme centralization.
Bitcoin will move to over ONE MILLION – Invest Now !
