{"id":169752,"date":"2020-04-30T10:45:14","date_gmt":"2020-04-30T14:45:14","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=169752"},"modified":"2020-04-30T09:27:48","modified_gmt":"2020-04-30T13:27:48","slug":"bitcoins-coming-of-age-mays-historic-halving-taking-place-in-a-new-era","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2020\/04\/bitcoins-coming-of-age-mays-historic-halving-taking-place-in-a-new-era\/","title":{"rendered":"Bitcoin\u2019s coming of age? May\u2019s historic halving taking place in a new era"},"content":{"rendered":"
April 30, 2020<\/div>
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By George Prior<\/strong><\/p>\n

The Bitcoin price will hit \u2018at least $10,000\u2019 even before the four-yearly \u2018halving\u2019 event taking place in two weeks, predicts the CEO of one of the world\u2019s largest independent financial advisory organizations.<\/p>\n

The prediction from the chief executive and founder of deVere Group, Nigel Green, comes as the price of the world\u2019s largest cryptocurrency suddenly soared by more than $1,500 on Thursday, moving it to its highest value since February.\u00a0 It peaked at $9,400.<\/p>\n

It comes ahead of May\u2019s highly anticipated halving event. Occurring every four years, halving means that less and less Bitcoin \u2013 which is limited to 21 million units – will be mined.<\/p>\n

In 2012, the number of new Bitcoins issued every 10 minutes fell from 50 to 25. In 2016, it went down from 25 to 12.5. Now, in the 2020 halving, it will drop from 12.5 to 6.25.<\/p>\n

Mr Green says: \u201cWe see the cryptocurrency market already significantly picking up pace ahead of the historic event in May.<\/p>

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\u201cInvestors are now increasing their exposure to Bitcoin as the halving – only the third in its 11-year history – will push up prices sharply due to the dramatically lower supply combined with a steady demand and increasing awareness of digital currencies.\u201d<\/p>\n

Previous Bitcoin halving events have prompted impressive price climbs. The 2016 halving triggered a 300 per cent jump in the value of Bitcoin.<\/p>\n

But the 2020 one could be even more remarkable, believes the deVere CEO.<\/p>\n

He notes: \u201cMay\u2019s event could herald Bitcoin\u2019s coming of age.<\/p>\n

\u201cIt will, of course, drive prices higher \u2013 but, in my opinion, the jump could be even more impactful due to these unprecedented times.<\/p>\n

\u201cThe digitalisation of our lives is accelerating at a faster pace than ever before. We\u2019re in an exciting new era driven by technology.<\/p>\n

\u201cThis new world needs new ways of doing things to fit the new normal.\u00a0 Clearly, one of those things which is needed now more than ever, as the world becomes ever-more digitalised and globalised, is digital and global currency, such as Bitcoin.<\/p>\n

\u201cThis will not have gone unnoticed by investors who are increasingly piling into cryptocurrencies.\u201d<\/p>\n

Mr Green continues: \u201cAlso, these unusual times have forced central banks to increase monetary supply. By printing never-seen-before amounts of money, traditional currencies are devalued and inflation fears rise.<\/p>\n

\u201cThis will also drive investors towards decentralised, non-sovereign digital currencies.\u201d<\/p>\n

Mr Green concludes: \u201cThe excitement of the forthcoming rare halving event, together with the new era we\u2019re in, will drive the price of Bitcoin exponentially and sustainably.<\/p>\n

\u201cI believe we can expect it to hit at least $10,000 before the May event itself.<\/p>\n

\u201cBeyond that, we could see an explosion in the price of Bitcoin due to real-world issues it addresses and increasing adoption.\u201d<\/p>\n

About:<\/strong><\/p>\n

deVere Group is one of the world\u2019s largest independent advisors of specialist global financial solutions to international, local mass affluent, and high-net-worth clients.\u00a0 It has a network of more than 70 offices across the world, over 80,000 clients and $12bn under advisement.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

By George Prior The Bitcoin price will hit \u2018at least $10,000\u2019 even before the four-yearly \u2018halving\u2019 event taking place in two weeks, predicts the CEO of one of the world\u2019s largest independent financial advisory organizations. The prediction from the chief executive and founder of deVere Group, Nigel Green, comes as the price of the world\u2019s […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-169752","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/169752","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=169752"}],"version-history":[{"count":1,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/169752\/revisions"}],"predecessor-version":[{"id":169753,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/169752\/revisions\/169753"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=169752"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=169752"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=169752"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}