{"id":170374,"date":"2020-05-11T18:34:43","date_gmt":"2020-05-11T22:34:43","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=170374"},"modified":"2020-05-11T18:34:43","modified_gmt":"2020-05-11T22:34:43","slug":"bitcoin-halving-highlights-crypto-is-part-of-mainstream-finance-devere-ceo","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2020\/05\/bitcoin-halving-highlights-crypto-is-part-of-mainstream-finance-devere-ceo\/","title":{"rendered":"Bitcoin halving highlights crypto is part of mainstream finance: deVere CEO"},"content":{"rendered":"
May 11, 2020<\/div>
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By George Prior <\/strong><\/p>\n

– Bitcoin\u2019s historic halving event on Monday underscores that the \u201clong-term future of cryptocurrencies is secure\u201d, says the CEO and founder of one of the world\u2019s largest independent financial advisory organizations.<\/p>\n

The comments from deVere Group\u2019s Nigel Green come as the world\u2019s supply of Bitcoin was forever slashed on Monday. The highly anticipated halving event, occurring only every four years, means that less and less Bitcoin \u2013 which is limited to 21 million units – wiil now been mined.<\/p>\n

Monday\u2019s was only the third ever halving. 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

The halving happened on block 630,000.<\/p>\n

Nigel Green says: \u201cThe historic Bitcoin halving event has demonstrated in two ways that digital assets\u2019 long-term future is secure.<\/p>

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\u201cFirst, the price had been rising steadily ahead of the highly anticipated event \u2013 almost three-fold in the last three months – and then dropped back just before and after it took place.<\/p>\n

\u201cThis shows that there has been increasing retail demand for Bitcoin as investors see and understand the growing influence and huge opportunities of digital currencies in an increasingly tech-driven world.<\/p>\n

\u201cWith this in mind, large cryptocurrency investors, known as \u2018whales\u2019, accumulate crypto at much lower prices then start a sell-off to capitalize on this sustained growing demand.\u201d<\/p>\n

He continues: \u201cSecond, history teaches us that after this post-halving drop in price, there is a subsequent bull run.<\/p>\n

\u201cPrevious Bitcoin halving events have prompted impressive price climbs. The 2016 halving triggered a 300% jump in the value of Bitcoin.<\/p>\n

\u201cThere is no reason to believe this time the market will not respond with a longer-term upward trajectory.<\/p>\n

\u201cIndeed, the rally which is likely on its way could potentially be even more dramatic because there is more mass awareness than ever before of the long-term use of and need for digital currencies.\u201d<\/p>\n

The deVere CEO adds that in these unusual times, central banks have increased monetary supply and this will further drive prices of cryptocurrencies such as Bitcoin.<\/p>\n

\u201cTraditional currencies are devalued and inflation fears rise on the back of the mass printing of money, the likes of which we have recently seen in the U.S., where the nation\u2019s central bank has added trillions of dollars to the money supply,\u201d he says.<\/p>\n

\u201cSuch measures will inevitably encourage even more investors to consider decentralised, non-sovereign digital currencies.\u201d<\/p>\n

Mr Green concludes: \u201cLooking ahead beyond the halving event, cryptocurrencies are increasingly becoming regarded as the future of money due to the real-world issues they address and growing mass 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

 <\/p>\n","protected":false},"excerpt":{"rendered":"

By George Prior – Bitcoin\u2019s historic halving event on Monday underscores that the \u201clong-term future of cryptocurrencies is secure\u201d, says the CEO and founder of one of the world\u2019s largest independent financial advisory organizations. The comments from deVere Group\u2019s Nigel Green come as the world\u2019s supply of Bitcoin was forever slashed on Monday. The highly […]<\/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-170374","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/170374","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=170374"}],"version-history":[{"count":1,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/170374\/revisions"}],"predecessor-version":[{"id":170375,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/170374\/revisions\/170375"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=170374"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=170374"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=170374"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}