Hello!
Just 8 hours left for the halving! We've been waiting 4 years for this epic moment to happen again. I am really confident that we will see a massive price appreciation in the coming months thanks to the 50% reduction of new issuance.
Scarcity drives value and we will be able to witness it for the 4th time.
Michael Saylor wrote a tweet that explains the effects of the halving in a different way:
What if an investor with unlimited capital announced a program to acquire 450 $BTC daily at the market price for the next four years and hold the asset forever? What if they increased their purchases to 675 BTC daily in 2028, and to 787.5 BTC daily in 2032? #BitcoinHalving.
With this perspective it's difficult to not understand the massive effect the halving has on the price. At least historically we've seen this effect hit very hard.
Local bottom?
The last days we've seen a correction that moved the Bitcoin price from $74,000 to $60,000. At the time of writing this it looks like we've hit a local bottom as we are close to $74,000.
Some altcoins fell to very low levels and they are now in a sweet spot if you want to buy some. $HIVE is also trading close to the $0,30 mark. A very good entry point in my opinion.
Fear and Greed
One think that I like from this corrections is that the sentiment changes very quickly in the crypto space. We went from extreme greed some days ago to Neutral.
Here you can see where we stand now:
Have a great day!
HAPPY HALVING!
Posted Using InLeo Alpha
