March 6, 2021

Cryptheory

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Bitcoin halving represents a ray of hope and fundamental strength

1 min read
Bitcoin halving represents a ray of hope and fundamental strength

Block Halving means great hope and fundamental strength for cryptocurrencies and especially for Bitcoin digital currency. A few experienced HODLers decided to sell their cryptocurrencies throughout the coronavirus crisis.

 

Many people put huge hopes on the reduced supply that is expected to come in two months. But what will it mean for those who are interested in Bitcoin mining?

 

Bitcoin mining? Will everything be all right?

 

One would say that with a reduced reward for each block, the number of people for whom mining is profitable must also be reduced.

 

Yes, it is. However, it cannot continue that way forever. In addition to the reward, the amount of power needed is regularly maintained. This is because the extraction of one block always takes about ten minutes. If a lot of miners leave the market, old equipment will slowly become profitable.

 

For the sake of a complete apocalypse, there is no problem, despite Block Halving, to mine on your computer. The digital currency is devised in detail in this respect.

 

The other side of the coin is a fundamental analysis, often based on historical assumptions. During past halvings, the cryptocurrency always recovered and fired to new heights. Few want to bet against a historical rule that has been repeated several times.

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