Within the next few weeks, the reward miners get for creating the virtual currency is anticipated to face the second halving in history of bitcoin.
As miner profitability has tanked considerably after the latest Bitcoin halving, the BTC mining difficulty has also seen a drop of over 6% if we compare it with the pre-halving period.
With the latest Bitcoin halving, the BTC mining rewards have reduced from 12.5 BTC to 6.25 BTC. Since its last halving in 2016, the BTC price has appreciated 1200% so far until the third event.
With a few hours and less than 40 blocks to 2020 Bitcoin halving, CME Group says the record trading activity for its Bitcoin derivatives reflects a strong institutional interest before the halving event.
After reaching $10k last week, Bitcoin is now trading below $8,700. Bitcoin 2020 halving is around 12 hours away but analysts warn that a second coronavirus wave could stop the Bitcoin rally after halving.
Such wordings as “Bitcoin halving date”, “what is Bitcoin halving”, and “Bitcoin halving countdown” are extremely popular for Google search. Just 2 days are left before the big event. BTC price is below $9,700.
Bitcoin price is moving up as the halving is just 3 days away. But will Ethereum follow the trend and rise along with Bitcoin?
The closer Bitcoin halving is, teh more predictions we get about teh BTC price in teh nearest future. Some of them are not very optimistic.
With the halving event just around the corner, analysts predict that BTC will continue its bull run. Bitcoin can reach $10,000 before the event.
As BTC halving is expected to happen next week, Bitcoin network’s mining difficulty has reached close to its all-time high of 16.55 trillion. Bitcoin’s mining difficulty adjusts itself every two weeks or every 2016 blocks depending on the competition in each adjustment cycle.
Bitcoin (BTC) is trading below $9,000 at around $8,800 as the halving is getting closer with a high level of price uncertainty. According to Morgan Creek Digital co-founder Jason A. Williams, BTC price will hit $10K before the halving.