Morgan Creek co-founder, Jason Williams, believes that the price of the leading cryptocurrency, bitcoin, won’t be affected by the halving event that will happen in May next year. The halving of bitcoin will result in the reduction of miners’ rewards by half.
“Bitcoin halving won’t do anything to the price.”
Jason tweeted that “Bitcoin halving in May 2020 won’t do anything to the price. It will be a non-event.” Usually, the halving event is believed to boost the price of the cryptocurrency. Jason also tweeted that 150 days after May 20th, 2020, the price will shoot up. If history repeats itself, the price of the leading cryptocurrency will break its record after 6-7 months following the halving event.
Unpopular Opinion –
Bitcoin halving in May 2020 won’t do anything to the price. It will be a non-event.
— Jason A. Williams 🦍 (@JWilliamsFstmed) December 1, 2019
150 days after May ~20th, 2020 = 🚀
— Jason A. Williams 🦍 (@JWilliamsFstmed) December 1, 2019
Bitcoin struggles to cross above $8,000
Currently, the price of the leading cryptocurrency is trading at $7,287. Bitcoin’s price witnessed the worst month in 2019 in November. Bitcoin slipped to a six month low as it traded below $7,000 mark for a while. However, analysts still believe that the price of the leading cryptocurrency will slip further in the short term. If you are a crypto trader its better to use a crypto news aggregator to avoid hassle of constantly switching tabs.
