The cryptocurrency bitcoin has its own way
Based on data and statistics, the cryptocurrency market has always been a volatile one, with individuals and companies taking time to look into its capabilities. The crypto community has been changing over the past few years on a global scale. With the involvement of governments seeing them trying to adjust their approach to Bitcoin and its Blockchain technology.
Cryptocurrency has been showing tremendous growth over the past few years and is expected to continue rising slowly in the future. Bitcoin had it’s 10 year anniversary around Halloween on the 31st of October 2018, with huge changes to how the cryptocurrency presents itself to the financial system.
Bitcoin just like most other cryptocurrencies is a deflationary currency. This means that its value increases over time because of the limited supplies programmed in it’s algorithms.
On the juxtaposition of things, the U.S dollar is plentiful and it’s being printed on a daily basis. It is managed as overtime inflationary fiat currency in the economy.
Bitcoin cannot be produced or printed out like other fiat currencies in the world, which are affected directly by political views and unexpected financial shifts in power.
Bitcoin and cryptocurrencies resist cohesion, manipulation and borders as it operates in a vastly different system than fiat currencies. The value of bitcoin will continue to grow based on market defined needs and solutions, while out innovating the current financial system.
The Bitcoin halving
One of the most important aspects to mark about bitcoin on your calendar is the date of halving, which is scheduled for a May 27th 2020 event.
This is the day that bitcoin will ‘halve’ in its mining reward when being mined. The event happens every four years decreasing its supply that will be available in the economy and on the markets.
Over time as the block rewards decrease the cryptocurrency will gain more value, while at the same time increasing the value of each cryptocurrency on the market.
Holders and or users of the cryptocurrency will also experience price growth in other cryptocurrencies or any fiat currencies after the Bitcoin halving.
The effects are not immediately seen but the price of bitcoin in fiat currency will surge soon after this Bitcoin halving event occurs and is expected to stabilise according to market demands right after.
Predictions in bitcoin is always a tricky deal as the cryptocurrency has a lot of factors behind it that influences its price, as it is based on supply and demand as a market-based currency.
However, when looking at how the cryptocurrency was programmed, to adapt to the financial system, some great predictions can occur for a better market prediction.