March 29, 2024

Changpeng Zhao: halving bitcoin will lead to higher prices

Changpeng Zhao: halving bitcoin will lead to higher prices

The CEO of the Binance exchange, Changpeng Zhao, believes that the Bitcoin halving is underestimated by the community. According to him, military-technical cooperation will beginbull run after halving.

Changpeng Zhao is based on historical data,but with some amendments. Previous reductions in miner rewards in November 2012 and July 2016 inevitably led to a bullish rally in the first cryptocurrency. 

Zhao notes that the MTC market price is determinednot by the cost of mining coins, but by supply and demand in the market. May halving will lead to a decrease in profitability, at least in the short term, and to a possible reduction in the release of coins to the market. In addition, halving will significantly reduce the bitcoin inflation rate, which will also stimulate a price increase.

The head of Binance also believes that in the near future, Bitcoin will consolidate near the psychological price barrier of $ 10,000.

Changpeng Zhao: halving bitcoin will lead to higher prices

Tom Lee takes a similar position, believing that halving will push the price of BTC to new records.