It looks like 12 May will be the date at which the Bitcoin halving occurs and we're in for some changes to how the network functions and the power of the miners will change hands, cost of mining will go up and that will hopefully reflect in the price of Bitcoin.
In the last 2 halvings, we've seen the scarcity drive the price up one some major bull runs that those of us who have only come in after 2018 would know nothing about, but that's when we really get into the wild wild west of crypto and HODL'ing isn't as easy and as simple as it once was, your resolve for those tokens will be tested, I can assure you of that.
I decided to purchase my last bit of pre-having Bitcoin a $130 or so, just as a keepsake and we'll most likely in the future you won't get cheap BTC like this again, depending on where the price retraces to after the bull run bubble pops.
I don't see the reduction in supply affecting the price for at least 2 months as miners play catch up and the adjustment starts to affect the market so you still have time to pick up or dollar cost average in over the next 2 months.
Image source: - bitcoinblockhalf.com
Unfortunately for some miners, depending on the country they are in with electricity costs and the setup they have perhaps the A9 miner will see their profitability shrink and they will either need to sell to upgrade or call it quits completely and get out of the mining game, or run at a loss, it really is up to them, perhaps some will be miners of last resort, who knows?
The reduction in inflation means there's less to go around and less to dump on the market to pay for bills and fewer miners are able to get rewards from the reward pool. Some miners will be able to stand the heat and wait it out and others will need to dump their reserves which is why I feel that the price will dip once the halving has come and gone.
If the price dips harshly enough by miners selling, many who has been sold on halving gains are going to have buyers remorse and think its a dud and sell, which we've seen before, and the price will continue to drop only putting pressure on mining profits and operational costs.
However, in time the system will find its equilibrium and the new stock to flow rate will take hold and start having its effect on the price. The halving runs are a game of timing and experience, some will lose, some will win big! Which one will you be?
What do you good people of HIVE think?
So have at it my Jessies! If you don't have something to comment, comment "I am a Jessie."
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