Halving in May 2020 will trigger a new phase of bitcoin growth

According to the forecasts of VanEck analysts, the reduction of the reward of bitcoin miners in May 2020 or the so-called halvingwill trigger a new phase of BTC strengthening. This is stated in a study by the company, the authors of which announced the emergence of a shortage of BTC within several months after the halving.

Block mining miners reward reduced totwice every four years (after mining 210,000 blocks). The results of the halving of 2012 and 2016 were an increase in demand for Bitcoin (BTC), which pushed it to new heights.

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Experts analyzed the consequences of reducing the reward of miners and noticed that the trend to strengthen interest in bitcoin has always become dominant.

The first cryptocurrency really started a newyear with very good results. At the end of January, the value of the coin increased by 30%. BTC has not only broken through the $9,000 mark, but is also preparing to test values ​​above $9,500 or even $10,000 this week.

A VanEck report notes that after halving inIn November 2012, Bitcoin soared from $ 12.2 by November 2013 to $ 1242. The next reduction in miners' rewards in July 2016 triggered a coin take-off to $ 20,000 in December 2017.

A similar trend is expected throughout 2020 or even until mid-2021.

Many people in the expert community believe thatreducing the block mining reward will strengthen BTC’s position in the global economy. For example, Peter Earl of the American Institute for Economic Research recently stated that the May halving will make Bitcoin the main competitor to the US dollar.

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