Bitcoin and Uptrennd Halvening Is Less than 8 Days to Go, How Prepared are You For the Aftermath?steemCreated with Sketch.

in GEMS11 months ago

There have been a lot of news around the upcoming Bitcoin halving that will be happening in less than 8 days from now. I'm not sure some of us understand what this Bitcoin halvening is all about. However, I think I should be able to give you a rough idea of what the Bitcoin block halving is all about for the sake of people who don't have an idea of what it is.

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What the Bitcoin block halving simply means is that the amount of bitcoin generated every 10 minutes (the time it takes a new block to be formed on the bitcoin blockchain) will be halved. In essence, this automatically means the supply of new bitcoins is reduced. We've had two Bitcoin Halving before where Bitcoin was halved from 50 to 25 and from 25 to 12.5. So this time around which happens to be the third Bitcoin halving, it will be halved from 12.5 to 6.25.

Let's not also forget that the first Uptrennd halvening will also be happening at the same time as that of Bitcoin halvening. Just as it was described by the Founder of Uptrennd in his announcement post: "The Uptrennd Halvening is an event where the 1UP token becomes twice as difficult to earn, very similarily to the Bitcoin halvening".

However, unlike that of Bitcoin where halvening has been fixed to take place every four years, that of Uptrennd does not have a fixed time. The Uptrennd Halvening occurs every time there is a supply of 100 Million 1UP tokens in circulation. This will undoubtedly bring about scarcity of the 1UP token and I think we might likely experience a rise in price of 1UP as a result based on my sentiment.

So the question is, how prepared are you for the Aftermath of these halving? Are you stacking up your BTC or 1UP yet? Do you even think the right thing to do is for you to stack up any of those cryptocurrencies at a time like this?

If you are not doing that, I think you might want to consider doing that already because chances are that we might be experiencing an upsurge in the price of BTC and maybe that of 1UP. However, I have to let you know that this is not a financial advise. I'm only sharing my own sentiment with you all.

I will like to know your opinion in the comment box below. Thanks!

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Dear @olasamuel

I wonder what are your personal expectation towards price of BTC in near future?

Many people out there seem to expect price of BTC to increase after upcoming Halving. And I'm trying to understand if those are not mostly ... just lovely wishes.

After all, we should ask ourselfs a question: how Halving would impact demand and supply?

Based on my knowledge, supply will decrease. That's the fact. so there may be less bitcoins dumped on the market by miners. Which will surely reduce selling pressure.

However, it doesn't mean that demand will increase. Am I right? So at the end of the day BTC price has higher chance to continue upward movement, but I wouldn't expect FIREWORKS.

ps.
Also I'm wondering, if halving isn't already priced-in. In the past not many people seemed to know about halving, so for many it came as a huge news. News which could bring some hype and switch on FOMO.

Currently many seem to be expecting similar market behaviours. And that's a major difference between now and past. Wouldn't you agree? Just curious what do you think.

Yours, Piotr

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