In recent days we have seen a growing interest in buying bitcoin and the price is close to $ 10K.
This price was last seen at btc 26.10.19.
What are the possible reasons?
- Since December 2017, bitcoin has never reached its previous maximum and has gone through several stages of large volume sales.
- It is therefore possible that the mood is improving and investors feel that the market has cleared up from panic sellers and and rise in price as well as demand.
- In May 2020, one of the most important events for bitcoin will be the halving factor
What is halving?
- It’s when the rewards for Bitcoin are cut in half.
- The total will decrease from 12.5 BTC to 6.25 BTC.
- This means that the production of new coins will be much more difficult.
- Currently around 18 million are in circulation and BTC have a total limit of 21 million.
- As the demands increase and Bitcoin becoming more scarce will result in an inflation in the price – simple supply and demand.
- Block # 630 000 (estimated around May 24, 2020)
We recommend to buy BTC before HALVING.