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November 24, 2020
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The scenario before Bitcoin’s third halving

How is Bitcoin doing before its third halving?

The fateful date of Bitcoin’s third halving (BTC) is approaching, at which point block 630,000 will be extracted, an event that is scheduled to take place between May 9 and 12, 2020.

Bitcoin is moving towards this date with prices hovering around $ 7,000. After breaking that level on Monday, BTC prices are once again approaching that psychological threshold, which is proving to be a balanced level.

Many are wondering what will happen to this third halving. The previous two in 2012 and 2016 did not occur in a global economic context like the current one, which will involve not only the mining production sector itself, but also the economy and the possibility of concentrating investments in that particular sector.

Bitcoin Cash and SV lose value after halving

Halving already took place on April 8 for the other two Bitcoin forks: Bitcoin Cash and Bitcoin SV. To this day, the rewards for these two forks have been halved like the original Bitcoin protocol.

In these two cases, halving of both led to a loss of value after the event. Both have lost about 20% of their value since April 8.

This is undoubtedly a change for miners who, at the moment, prefer to focus their activities on Bitcoin and not on the different forks precisely because of their own profit.

It is necessary to wait for the post-reduction evolution of Bitcoin halving in May to understand what the new balance will be due to a completely new situation, even for the cryptocurrency sector, which for the first time in history is facing an economic situation financial crisis.

Source: cryptonomist

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