on the crypto
The approach of the May 2020 it is causing quite a few fibrillations among those who are used to investing in Bitcoin. Just in that month, in fact, mining rewards will be switched from 12,5 to 6,25 BTC for each block extractedan event that analysts said should have far-reaching consequences on the listing of the queen of cryptocurrencies. Indeed, according to someone, it would already be reverberating beneficial effects on the BTC price, adding up in this sense with the monetary policies of central banks. Let's go see why.
85% of the tokens are already in circulation
85% of Bitcoin's overall monetary supply would currently be in circulation. A not insignificant figure, considered as in the next 120 years the miners will remain the possibility of generating only 3,15 million new coins.
This was revealed by a recent study published by Blockchain.com, according to which Bitcoin miners have so far extracted 17.850.000 coins, on a total monetary offer attested to share 21 million. In view of the fact that the rewards for the generation of the new blocks are destined to decrease with the passage of time, the last BTC should be undermined in 2140. This is a process that has very strong consequences on the price of the uniform.
Not all tokens are in circulation
To this figure it is then necessary to add another, no less important, the one related to true number of Bitcoins that are currently in circulation, which is in fact considerably lower than assumed. According to a report published in 2017 by Chainalysis even about a fifth of the tokens to be extracted, or 4 million, could have been irretrievably lost in the meantime. To cause this situation, quite sensational, would be the loss by many users of access to their private keys, a phenomenon that is destined to repeat itself over time.
What could happen?
Precisely on the basis of the data mentioned, in particular those related to the halving of the rewards, some analysts have gone so far as to suggest a resounding growth of Bitcoin listing in the coming months. It Anthony Pompliano it continues to sponsor the hypothesis of a price stuck at $ 100 by 2021, too Joe Kernen, presenter of CNBC's Squawk Box show, has recently stated that the May 2020 halving could result in a BTC rally up to 55 thousand dollars. Hypothesis of the rest shared by Filb Filb, which, however, confirms the hypothesis of a non-uniform trajectory and topped with quite a few overturnings, starting from a next downward adjustment, at 7 thousand, before the definitive rebound upwards. A rebound that according to many commentators could also be made possible by the monetary policies implemented by central banks, in particular of the European Central Bank. If in fact the era of Mario Draghi is about to end in Frankfurt, internal sources of the ECB have already made it known that the policy of low interest rates is destined to persist even with the advent of Christine Lagarde. A decision which should benefit alternative assets, starting right from the most competitive cryptocurrencies, such as Bitcoin.