Bitcoin’s next halving is scheduled in May 2020. However, in contrast to the first two halvings, the third time might not be a charm. Bitmain organized the World Digital Mining Summit in Frankfurt, where the stage was taken over by the miners to discuss the upcoming event.
The co-founder and ex-CEO of Bitmain, Jihan Wu, holds a gloomy perspective about the probability of a price surge post halving. He suggests that the initial uptrends were probably a “catching up with the bubble-and-bust cycle” phases. “Maybe people speculate too much before the halving, and then you can’t sell the good news anymore. Maybe, this time, a bullish cycle is not coming yet,” said Wu. He also dictated how Litecoin plunged after its halving in August this year.
Nevertheless, patrons are exceptionally divided in terms of thoughts on BTC halving. Matthew Roszak, chairman of Bloq, the blockchain software company, expects the price to reach somewhere between $15,000 and $100,000.
Halving is a significant process in the crypto industry. Streng, of Genesis Mining, states that the main effect of the halving will be the wipeout of small individual miners who account for 20% of the market.