Bitcoin is the reversal of the pandemic?
Bitcoin’s popularity is growing by leaps and bounds, especially with its upcoming Halving on May 12. The crypto currency made an appearance on the Argentine program „What do we do with the pesos“, broadcast by the A24 signal.
The block opened with a question from a Twitter viewer: Is Bitcoin the reversal of the pandemic? The program’s host, Mariano Otálora, said that there are very optimistic forecasts that place Bitcoin at up to US$ 500,000.
He also talked about more realistic and possible projections such as reaching 100k.
Hodlers accumulate Bitcoin before Halving
The BTC has a high potential
Bitcoin has a high potential, said Ivan Tello, Co Founder of decrypto.la, who was interviewed live by Mariano Otálora.
He commented that in the first Bitcoin Halving its value rose from US$ 30 to US$ 1,200, while in the second it went from US$ 600 to its historical maximum of US$ 20,000.
In addition, he added:
The big investment funds do not have „physical“ in late 2020 moved – lot of new activity – an sec crackdown – blockchain distribution network – formed its own governing council holdings, but rather they do so through the futures and derivatives market. He noted that in the future it will be common for hard money to enter BTC, as it will be one of the quintessential safe havens.
The Bitcoin Halving is a process that occurs approximately every 4 years, where the miners‘ reward decreases to 50%. Starting next Tuesday, it will go to 6.25 BTC per block, up from 12.5 today.
Bitcoin’s Halving ensures volatility
At the time of writing, Bitcoin is being negotiated at US$ 8,700, after touching US$ 8,100 an hour ago. The day started with a value close to 10k, clearly showing the volatility of the BTC at hours of its halving.
At this point there is no doubt that Bitcoin is a very volatile asset, which offers very good returns if bought at opportune moments. One of the best strategies that has worked is Hodl (Buy and Wait).
Will Hodl work until the Bitcoin halving? We’ll know in the next few hours.
From CriptoTendencia we have a special coverage of the Halving, which we invite you to follow actively.