Alistair Milne: “Halving bitcoin will inevitably lead to an increase in value»

Alistair Milne: "Halving bitcoin will inevitably lead to an increase in value»

According to entrepreneur Alistair Milne, the halving of the reward for bitcoin miners, which will occur in may next year, will definitely have a positive impact on the pricing of the first cryptocurrency.

“I can’t understand how $45 million of unsatisfied demand a week will go unnoticed?”, – wrote
him.

Halving the reward for mined blocks is increasingly becoming the subject of discussion among representatives of the cryptocurrency industry as this event approaches. In the past, there have already been two halving of the reward, and in both cases, the price of the first cryptocurrency began to rise about six months before the event. Now, optimistic expectations are not confirmed yet, which makes the community worry.

Analyst Willy Woo has previously commented on this issue, noting that there have been changes in fundamental factors that do not allow you to make forecasts based on past data.

“Previously, there has never been such a thing as halving in a bearish trend, but the situation has changed. Miners are already selling their stocks, which provokes a decline in quotations. Previously, the market was ahead of events in a bullish scenario, and miners capitulated only after the block reward was reduced. Now there is a unique bearish trend in the run – up to the event itself,” he wrote at the time.

Co-founder of the Morgan Creek Digital Fund, Jason Williams, believes that the market will not react in any way to the reduction of the reward for miners from 12.5 BTC to 6.25 BTC.

“This opinion is unpopular, but I still adhere to it. Halving will not affect the price of bitcoin in any way. It will be held as a meaningless event, ” he said
him.

Jihan Wu, who recently returned
as the head of Bitmain, he also holds a similar position.

“There are a lot of uncertainties at the moment, but now is a good time to enter the mining industry. If I were a miner, I wouldn’t stop working. It is worth continuing to invest in mining equipment. Yes, there is a short-term correction now, but it is important to look at the long-term future. The price of bitcoin may not change after halving, but this should provoke an increase in the efficiency of existing equipment, ” he said
he is in October at the World Digital Mining Summit event in Germany.

Well-known bitcoin supporter Anthony Pompliano (Anthony Pompliano) believes otherwise: “Halving is not included in the price of bitcoin,” he wrote in mid-November, when the first cryptocurrency’s quotes were 20% higher than current values.

At the moment, bitcoin is trading around $7,100 – $7,200, having fallen by $200 over the past day.