The crypto sphere has seen a lot of buzz over the past few months with regards to the Bitcoin halving that is going to take place in May. Bitcoin is the biggest cryptocurrency in the world, and it is only natural that the upcoming halving event has caused such a stir in the crypto sphere at large.
Key Things to Watch
However, there is something else that needs to be considered at this point. The markets across the world have been sent into a tailspin due to the onset of the coronavirus pandemic, and it is worthwhile to consider whether this is going to affect the halving event.
A halving event literally cuts the rewards earned by miners when mining a coin by 50%, and over the years, such an event has proven to be a good thing for Bitcoin. In the past, Bitcoin’s price saw a spike following such a measure because halving often led to a rush of new investors into the cryptocurrency. However, this time, the situation could be different.
The coronavirus pandemic has unleashed economic miseries, with hundreds of thousands of people losing their jobs and having to take checks from the government. The turmoil could have an effect on the number of people who are actually willing to spend any money on buying cryptocurrencies after the Bitcoin halving.
>> Ripple’s Xpring Introduces Smart Features to XRP Ledger
Financial markets all over the world have been rocked by widespread sell-offs, and the United States Federal Reserve has had to announce a stimulus package worth trillions of dollars to try and stabilize the stock markets. As a matter of fact, there are widespread fears that the world is going to change forever due to the effect of this particular pandemic, and there is a feeling that cryptocurrencies might not even exist in the coming years. So it definitely seems likely that the current situation is going to have an effect on the Bitcoin halving event.
What do you think?
Featured image: DepositPhotos © aa-w
Risks and Disclosure:
Information provided in this correspondence is intended solely for informational purposes and is obtained from sources believed to be reliable. While all information is believed to be reliable, it is not guaranteed by us to be accurate. Individuals should assume that all information contained on this website is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between any predictions made or suggested and the actual results.
All statements and opinions expressed are the opinions of the author and not of Cryptocurrencynews.com or its officers. The author is wholly responsible for the validity of all statements. Cryptocurrencynews.com was not involved in any aspect of the article preparation. The author was not paid by Market Jar Media Inc for this article. The author did not pay Cryptocurrencynews.com to publish or syndicate this article.
This article does not constitute as investment advice. Each reader is encouraged to consult with his or her individual financial advisor; any and all actions taken by a reader as a result of the information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Cryptocurrencynews.com’s terms of use and full legal disclaimer. This article is in no way a solicitation for investment. Cryptocurrencynews.com does not render general or specific investment advice. Any information on Cryptocurrencynews.com should not be considered a recommendation to buy or sell any security. Cryptocurrencynews.com does not endorse or recommend the business, products, services or securities of any company mentioned on Cryptocurrencynews.com.
Futures, stocks and options trading involves substantial risk of loss and is not suitable for every investor. The valuation of futures, stocks, and options may fluctuate, and, as a result, clients may lose more than their original investment and possibly their entire investment. Any content on this website should not be relied upon as advice or construed as providing recommendations of any kind. It is your responsibility to confirm and decide which trades to make. Always consult a licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment.
Please see our full disclaimer here for additional details before making any investment decisions.
