What is halving? Well before talking about halving, we make a brief introduction to what bitcoin is. Bitcoin, for those who do not know it, is a technology, it is a monetary system in itself that was born on January 3, 2009. The halving is part of the bitcoin protocol. Bitcoin has an issue, a calendar of the units that will exist until 2140 and every four years that issue is reduced by half. We have experienced two halving previously, before the first halving, 50 units of bitcoin were issued for each block mined, every 210,000 blocks coincides with these four years and the reward is reduced. Tonight we are going to experience the third halving of bitcoin, we could understand it as a monetary policy behind deflationary bitcoin that encourages saving in this type of money.
What effect can this event be expected to have on the cryptocurrency? Does it affect only Bitcoin or can it also drag other cryptocurrencies? We can study the behavior that bitcoin has had in the previous halving, we saw that in the halving of 2012 a bitcoin was worth 12 dollars, and two years later it grew to 1,139 dollars. In the previous cycle, in 2016, the price of bitcoin was worth $ 202 and by the end of 2017 it reached a price of $ 19,751. Today we are at an approximate price of $ 8,900 and it is estimated that in 2021 it will reach $ 100,000 or more. This also affects other currencies because there is correlation between bitcoin and other currencies. In fact, altcoins, as alternative cryptocurrencies are known, closely follow the price and the percentage of variation of bitcoin. In the medium and long term we believe that bitcoin will rise precisely because of its scarcity, as there is less available quantity, less supply and demand is expected to continue rising for different reasons ...
