Every four years, the miners' reward for their work at the so-called Bitcoin Halving is halved. This will probably take place in May 2020. Experts believe that halving the blocks will have a significant impact on the price of the digital part, as fewer bitcoins will be released through this event. Joe Kernen said in an interview on CNBC that Halving's Bitcoin would cost $ 55,000.
Pipe for Bitcoin trailer
He made these statements in a series of Squawk Box on the American channel CNBC. The program is becoming more and more the mouthpiece of Bitcoin fans. Most guests are very satisfied with the possible development of the Bitcoin course. Joe Kernen is one of the moderators of this program and has dared to make optimistic forecasts for the development of the Bitcoin course.
$ 55,000 too exaggerated?
In one Interview with Katie Stockton, founder of Fairlead Strategies, he asked her if she subscribed to his prediction that Bitcoin could be worth $ 55,000 via Halving. Although Stockton first mocked the question, Kernen tried to convince them.
The prediction of hearts is based on an analysis of the markets for gold and silver. Similar to the scarcity of precious metals, the reduced number of coins should affect the price of Bitcoin. Stockton was not entirely convinced thereafter either. Kernen, however, insisted on his point of view.
What are the consequences of halving the Bitcoin price?
Bitcoin Halving should take place in May of next year. The miner's reward will be reduced from 12.5 BTC to 6.25 BTC. This will reduce the future supply of Bitcoin. In case of scarcity, the value increases while the demand remains constant. Kernen believes that this development could significantly increase the price of bitcoin. According to him, this will mean that Bitcoin will have a value of about 55,000 US dollars.
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Corinna is the editor-in-chief of Coinwelt. Since 2016, his world is based around crypto-currencies and blockchain. No day goes by without Corinna getting bored of investing the first day in Bitcoin. She finds the international legal situation particularly interesting for currencies such as Bitcoin. For the future, she hopes for a positive attitude from lawmakers and clear laws on the treatment of digital parts.