Afternoon all.
Been a while since I posted here so hi and best wishes to anyone still visiting the wall.
We’re now at less than 20 days to the Bitcoin halving and the situation is strange at the moment, with interest in crypto investing/speculation probably quite low on the list of people’s priorities during this Coronavirus Pandemic which has millions of people across the world losing jobs and being more worried about paying the household bills and affording food.
The pandemic is not going away before the halving event so I’m going to say this will have an effect on the chances of crypto attracting new money to the sector, especially with other assets classes like equities and real estate also under pressure from worsening economic conditions.
I’m setting my expectations very low but at some point down the road it is important to remember that when the world gets back to normal and interest in Bitcoin improves, the daily supply of Bitcoin being created is going to be less for satisfying any new demand and that will be a added positive on price pressure.
We could have a ‘sell the news’ reaction to the halving, especially if May stock markets are weak after the recent rally and with profits made recently on shorting Oil, I’ll be looking to add a few more positions.
Thanks for your time.
$BTC
