HomeCryptoBitcoinThe scenario before the third Bitcoin halving

The scenario before the third Bitcoin halving

The fateful date of Bitcoin’s (BTC) third halving is approaching, at which time block no. 630,000 will be mined, an event that is currently scheduled to take place between May 9th and 12th, 2020.

Bitcoin is heading towards this date with prices oscillating around the $7,000 threshold. After the break-down of this level on Monday, BTC’s prices are once again coming close to this psychological threshold which is proving to be a balanced level. 

Many are wondering what will happen with this third halving. The two previous ones in 2012 and 2016 did not take place in such a global economic context as the current one, which will involve not only the mining production sector itself but also the economy and the possibility of focusing investments on this particular sector.

Bitcoin Cash and SV lose value

The halving already took place on April 8th for the other two Bitcoin forks, Bitcoin Cash and Bitcoin SV. As of this date, the rewards for these two forks have been halved from BTC’s original protocol. 

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

This is undoubtedly a shift by miners who for the moment prefer to focus their activities on Bitcoin and not on the different forks precisely because of the profit aspect itself. 

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

 

Federico Izzi
Federico Izzi
Financial analyst and independent #trader – S.I.A.T. & Assob.it partner. He operates actively on stock and derivatives markets (futures and options) since 1997. A precursor of cyclic-volumetric analysis he is known for having identified the most important upward and downward movements in the financial markets of recent years. He participates annually as a speaker at the ITForum in Rimini since the 2010 edition and InvestingRoma and Napoli since the first edition of 2015. He is a guest and market expert on the "Trading Room" and "Market Driver" broadcasts of Class CNBC, Borsa Diretta.tv and on the evening news of Traderlink. Since July 2017 he is a permanent guest on LeFonti.TV, the only weekly national space dedicated to cryptocurrencies alongside the most important international experts in the field. He was interviewed as a cryptocurrency expert for Forbes Italia, Panorama, StartupItalia and DonnaModerna. He was recognized as the first Italian technical analyst to have published the first secular cyclic analysis on Bitcoin. Periodically publishes articles on ITForum News, Sole24Ore, MILANOFINANZA, TrendOnLine and Wall Street Italy. Federico Izzi is... "Zio Romolo".
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