Bitcoin Approaching 2020- Halving. A Monster Catalyst
Bitcoin has been traveling sideways the past few weeks, and is caught between $3,900 and $4,100. Traders have been aggressively crystalizing their gains, and the resistance level is solidly around $4,500 for a sustained bullish breakout. A massive Bitcoin catalyst, the halving of the Bitcoin block rewards, is coming soon, and poses a solid reason to buy Bitcoin now.
The "halving" of Bitcoin rewards to miners will reduce the rewards miners receive from 12.5 Bitcoin per block mined to 6.25 Bitcoin per block. The resulting reduction in supply will increase the price, and this has historically occurred up to a year before the halving. The reward reduction is slated for May 2020.
This is the historic event that has increased Bitcoin's price. This catalyst will mechanically increase the price of Bitcoin as demand and adoption of Bitcoin continues to grow. Imagine the increase in demand as large firms including Coinstar, The Nasdaq, and even Starbucks incorporate Bitcoin into their business processes. The more usage of Bitcoin requires more transactions, even with the adoption of the Lightning Network.
Get ready to buy and hold for the run-up.