What is Bitcoin halving & why does it suggest Bitcoin will be priced close to $100,000 by 2020?
Each 4 years, Bitcoin undergoes an important event known as the ‘Bitcoin halving’. The first happened in 2012, and again in 2016. Likewise, it will happen again sometime in 2020 and 2024. Bitcoin halving has to do with mining becoming more difficult and rewards out of mining slowly reducing in order to control supply. After each ‘halving’ event the number of new Bitcoin that appears each year is decreasing, therefore increasing prices, as scarcity also increases proportionally.