Invest in Bitcoin?
Is it now the right time to invest in Bitcoin?
In this time we are finding ourselves now with all the changes and uncertainties, the question stays in the back of our heads: what is going to happen in the future. The price of Bitcoin has increased by almost 20% and there are predictions that it may rise more in the next weeks ahead.
What is Block Halving?
Block halving is an event that occurs once about every four years wherein the block reward miners receive upon solving a block chain on the Bitcoin network is reduced by half. That means that the rate that Bitcoins are generated decreases. The halving event is programmed into Bitcoin’s code and occurs once 210 000 Bitcoins entered circulation. The next halving is expected to take place within the next few weeks.
What is the effect of Halving on the Bitcoin price?
The 2012 block halving was the first halving and happened on November 28th, 2012. The halving block was mined by SlushPool by someone using a Radeon HD 5800 miner.
- New BTC Per Block Before: 50 BTC per block
- New BTC Per Block After: 25 BTC per block
- Price on Halving Day: $12.35
- Price 150 Days Later: $127.00
The second halving event occurred on July 9th, 2016.
- New BTC Per Block Before: 25 BTC per block
- New BTC Per Block After: 12.5 BTC per block
- Price on Halving Day: $650.63
- Price 150 Days Later: $758.81
In both the past two halving events, the Bitcoin price increased in the next 12-15 months after the event. If history is going to repeat itself, it might be a very opportune time to invest now in Bitcoin.
How do I invest in Bitcoin?
One option would be to just buy Bitcoin and leave it in a Bitcoin wallet. If the price goes up by say 20% in the next 6 months, you can withdraw you Bitcoin back to USD (or whatever currency you have used) and you’ll have about a 20% return on your funds.
You can also search the internet for other businesses that trade with Bitcoin and you can receive an additional increase over and above that of the Bitcoin price increase.
Is there risk involved?
Yes, there is always risk involved in investing, I would advise you to do your own research and make your own conclusions.
Happy hunting,
Wikus
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