The slashing of the block reward by half is just a year away from the present moment, currently for mining a block the miners are getting 12.5 BTC, but come 2020, this time of the year, the figure is going to go down with a drop at 6.25 BTC, there seems to be a link that connects the slashing and the Bitcoin’s pricing, there have been occurrences in the past that state the Bitcoin prices shoot back up after a period of 1 year following the slash.
There is an obvious logic concerning the situation of supply and demand when Bitcoin’s supply is less and the demand overwhelms it, then the prices should automatically go up, and when the demand stays level and doesn’t change then Bitcoin prices should go up as well.
2019:A Progressive Start
The statistics confirm that 2019 has been progressive for Bitcoin, the prices have elevated by more than 108 %. The rise has compelled many industry advocates to consider that Bitcoin has emerged with great power; this belief in the rise has extended even to the communities in a positive fashion,
A recent twitter vote suggests most people think the prices will go up before the slashing occurs, however, a quarter believe the pricing will decline but are sure of its rise after the slashing.
The Present Moment
Although, there is a full year from now before slashing takes place, looking at the current price will shed light to the present situation, a recent report suggested the $8300 price mark was met with rejection, but support seems to exist at the edges of $8100.
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