Where Will Bitcoin Prices Go Post-Halving?
In the aftermath of bitcoin’s ‘halving’ on 9th July, market experts have begun to take positions on whether they believe the digital currency’s price will rise or fall in the weeks and months ahead.
Long a matter of discussion in bitcoin’s trading community, market observers had been anticipating the event, which saw the number of new bitcoins issued per transaction block reduced from 25 BTC to 12.5 BTC, for years, and had been eager to see how it may affect both trading and the larger sentiments of investors.
Any anxieties have now been eased, as one week after the change, the halving has been seen by many a non-event in terms of price or overall impact on the network.
While the digital currency experienced, by bitcoin standards, a modest decline following the event (falling to $626.87 on 9th July, a figure that was 5.7% below the opening price), bitcoin prices have remained relatively stable.
Since then, prices have continued to build gains, rising to a press time total of $668.75, and going forward, many market observers suggest gains are likely to continue.
This post was published at Coin Desk on July 19, 2016.