Will The Bitcoin Halvening Force the Price To Go Up?

If you read my blog on a regular basis then you are probably aware that I am a massive fan of cryptocurrencies, particularly Bitcoin and with the Bitcoin Halvening coming up next year, we are seeing more and more people get excited due to an expected price increase in the digital coin that may cause the price to skyrocket.

Essentially, the Halvening is when the block reward for the Bitcoin miners will be reduced and for the first time, the amount of new Bitcoin being introduced into the circulating supply each year will be below Two percent, the rate of inflation for many countries. This further increases its value against traditional fiat currency.

We have seen a number of people on social media, crypto related forums, and social bookmarking sites commenting on this with this thread and this thread being posted on Reddit last night alone. The embed of one of the comments below from one of the threads gives a nice little explanation of what is actually happening.

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If we look at the historical implications of previous halvenings for Bitcoin, we can see a definitive pattern occurring with a subsequent price surge just after the update. Since the surge in popularity at the backend of 2017, there are many more people paying attention to Bitcoin and with Bakkt supporting Bitcoin with a goal of getting it involved in traditional stock exchanges, I am investing my money with a goal of having it increase this time next year.

The comment from Reddit embedded below also gives an indication of how previous halvenings have affected the price of Bitcoin. The halvening coupled with the factors covered in the previous paragram has me very excited about what will happen to the price and market cap of Bitcoin.

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