In the German Bayerische Landesbank (BayernLB), researchers note that in 2020 the cost of the main cryptocurrency will reach $90,000. The reason is the change in the miningMining
– is a type of activity for creating new blocks in the Blockchain to ensure proper system operation. Details reward.
The value of Bitcoin will increase after a halving
Researcher Manuel Anders conducted an analysis that indicates the growth of the main cryptocurrency after halving. This is the name of the reward reduction for miners. This procedure occurs once every four years to prevent Bitcoin inflation. Halving affects the growth of cryptocurrency, as well as the size of the earnings of miners.
Anders noted that the high reserves of the main cryptocurrency relative to each issue in the new year allow it to grow as early as next year. So, he gave an example of another asset - gold: the metal took much more time, unlike Bitcoin.
The reward will decrease in May 2020 at block 630,000. After that, the first code embedded in the cryptocurrency mining algorithm will reduce the amount of reward to 6.25 BTC.
Interesting in the section: Bitcoin is falling despite positive news
- Last week, the value of Bitcoin dropped to $8500, although earlier analysts had predicted an increase in the main cryptocurrency.