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I'm Still Optimistic For The Halvening

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@whatageek
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The halvening is coming.

First question do you say it's the halving or the halvening?

Halving is proper English but the halvening sounds so much cooler.

I was ready to stop watching cryptocurrency for awhile when we dropped during the pandemic. I figured it was done for the foreseeable future and would be another year or years before anything might happen. And after 2 years of bad markets I had no interest in another 2 years. This might still happen as I am seeing calls for 1k bitcoin but I don't think that is the case. In fact I feel, minus a month or two, we are pretty much on schedule for things to improve soon.

If you don't know what the halvening is it the the time when the amount of bitcoins you get for mining a block is cut in half. Right now a block produces 12.5 bitcoin and in roughly 25 days that will change to 6.25 bitcoin per block. This means, in theory, people are getting half of what they use to and thus the value of bitcoin should double. But that is just the theory. Bitcoin can do nothing or go up 25x in the months to come. And on the last two halvenings bitcoin had quiet a run.

Once the halvening happens the price of bitcoin will need to go to 12,000 to 15,000 if people who are mining are going to mine in profit. So I do think we are going to see that price very soon.

Here is what I'm thinking. BTC has held up very well at this 6.8k-7K range. This will be our launch pad in the coming months to climb to that 12k area. This is not financial advise but I am going to guess we are going to make it to that level. But it might take a month or two longer than expected because of everything that is happening. From that we can still climb and hopefully alts come with it.

The alternative is bitcoin doesn't go up and we might see a big drop in price. I don't see this happening but that might just be hope on my end.

What do you guys think? Are we going to be rich by the end of the year?

Personally I'm going to guess by summer we are looking at 15k bitcoin and people will start to talk about cryptocurrency again in positive terms.

And like always this is not financial advice, just guesses.