According to calculation by Plan B, maintaining the current state of inflows could lead Bitcoin to a new historic high
The inhabitants of the “cryptoversion” are eager for the halving of Bitcoin – where the profit obtained from mining new blocks on the network will be reduced by 50%, thus decreasing the mining reward from 12.5 to 6.25 Bitcoins.
The famous Twitter analyst, “Plan B,” explains how Bitcoin needed a monthly inflow of around $ 400 million to possibly maintain the $ 7,000 price level for two and a half years, so after halving, it will need only $ 200 million a month to maintain its price or even break the ATH (all-time high) if it remains in the $ 400 million range.
To maintain $ 7,000 since October 2017, #Bitcoin must have received about $ 400 million in new cash every month for the past 2.5 years! (30d x 24h x 6 blocks x 12.5btc x $ 7k assuming all trades are zero sum)
After halving, we only need $ 200 million a month to maintain the $ 7,000 level. If $ 400 million remains, then [foguete]
Hashcash inventor and Blockstream CEO Adam Back, replied to the tweet and emphasized that, although there may be optimism in the air, users mainly expect what will happen.
“In addition, some activities are uncertain“ waiting to see what happens with halving ”and if there is a positive movement, the media talks about it and creates a cycle of positive reflexivity. Looking forward to the quantitative strengthening event, when Bitcoin’s coin supply rate drops by half! ”
This seems to be a natural way of thinking. If there is one thing clear in the world of cryptocurrencies it is the volatility of the market and, despite what the graphics say (basically all halvings were optimistic for Bitcoin), the future is uncertain because the crypto world works 24/7 and the market is extremely susceptible to external events.
On the other hand, Plan B agrees with Adam Black and even points out that, while others have doubts about the capitulation of miners and the recent fall of the financial markets, for him, these are problems that simply disappear when halving is finished.