Halving Priced In or Not, Bitcoin’s Trajectory Bullish for 2020: Exec
[NEWS BLOG]: Halving Priced In or Not, Bitcoin’s Trajectory Bullish for 2020: Exec
In less than six months’ time, Bitcoin will see an extremely important event. Known as a “halving” or “halvening,” the number of coins issued per block to miners will get cut in half from 12.5 to 6.25, effectively meaning that BTC’s inflation rate will be cut in half in layman’s terms.
Related Reading: Don’t Withdraw Bitcoin From Binance to Privacy Wallets, User Warns
The halving mechanism, should it be kept in the code in the decades to come, will ensure that there will only be 21 million Bitcoin in existence. Ever. This ties into Satoshi Nakamoto’s seeming obsession with creating a scarce, hard form of money that is unlike fiat money, which can be printed without limits.
Despite this characteristic, not everyone is convinced that the halving will have a positive effect on BTC, claiming that it won’t affect the market in any notable way or that the event is already “priced in.”
OTHER RELATED NEWS
Analyst Who Called XRP’s Drop to $0.16 Is Still Expecting Upside: Here’s Why
Analyst Who Called XRP’s Retracement to $0.16 Is Bullish
On March 26th, the price of XRP suddenly shot up out of nowhere, rallying by more than 10% within a few hours’ time out of nowhere, leaving Three Arrows Capital’s CEO, Su Zhu, to remark: “XRP looks like it wants to retrace months of underperformance in a few days now.”
In the wake of this surge, trader Credible Crypto said that before a further rally, he expects the asset to retrace to ~$0.168, as it has today, before continuing to trend higher in a wave-like fashion to $0.20 and beyond.
With XRP having retraced - read more.
K-Pop Music Giant SM Entertainment Is Planning Its Own Cryptocurrency
SM Entertainment, one of Korea’s top-three pop talent agencies, is planning to build its own blockchain network with a native cryptocurrency as it battles a shareholder revolt and a falling stock price.
Joo Sang-sik, director of the company’s technology arm, CT-AI Labs, made the announcement at the Upbit Developer Conference in Incheon on Sept. 4, according to a report from local media outlet IT Chosun.
Joo said the company is aiming to develop a blockchain network that would allow fans to be more engaged with the entertainment ecosystem by investing in artists’ work through cryptocurrencies.
The director provided few specifics about - read more.
Billionaire Investor Henry Kravis Makes First Crypto Investment
Billionaire investor and philanthropist Henry Kravis is dipping his toe into the world of crypto assets.
According to a piece by Bloomberg on Friday, Kravis – who is co-founder of global investment firm KKR & Co. – is said to have invested in a cryptocurrency fund offered by ParaFi Capital.
The news comes via ParaFi founder and CIO Ben Forman, a former KKR employee who left to form the San Francisco-based digital asset startup. Bloomberg said a spokeswoman for Kravis has declined to comment on the investment.
Forman describes ParaFi Capital as an “investment firm focused on the blockchain ecosystem” - read more.