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Bitcoin Halving May Affect Cryptocurrency Rate Unpredictably

The world known cryptocurrency is almost 90 percent more expensive than it was at least year ago and market participants hardly plan that this is the limit of the price increase, as they have great plans for halving event. The miners’ reward for the mined block will be halved in five months. Bitcoin had get through this process twice already, and its price for the first time after the halving has increased almost 200 times, in the second - up to 7. No one guarantees such a result this time.

![bitcoin slips halving assessed][1]Photo: Pixabay

The most important event in the history of cryptocurrency, in particular for Bitcoin network, the halving will take place in May 2020. Traditionally, it makes things hard for miners, since it will become twice as difficult to make a profit from mining, because the reward will be reduced by that much.

Recall, the first halving in the history of the main digital coin took place in November 2012 - then for six months the asset rate increased by 120 percent - from $5 to $11, after which the cryptocurrency began to increase much more sharply in price. In April 2013, the value of Bitcoin reached $230, and by December - at $1,147, showing a record increase of almost $20,000 over 1 1⁄2 years.

Now Bitcoin is in a situation that is not similar to what it was with the first cryptocurrency in the past times before halving. Experts believe that the value of Bitcoin will gradually increase after a reduction in the reward for the mined block, but now no one can guarantee a multiple increase in the price of an asset in a short period of time.

As for the major cryptocurrencies rates on Thursday, they are as follows:

  • Bitcoin lost 0.41 percent, to $7,172;

  • Ethereum gained 0.57 percent, to $143,49;

  • Ripple eased by 0.48 percent, to $0,2194;

  • Bitcoin Cash rose by 0.15 percent, to $206,40;

  • Litecoin grew by 0.39 percent, to $43,59

  • Monero added 1.00 percent, to $53,52

    1. /files/filemanager/image/For_Analytics_23/bitcoin_crypto_pixabay_12.jpg