Bitcoin Halving

On the 20th of April, the halving or halvening of Bitcoin will come into effect. This just means, and this is my take, that miners will only be mining half of the Bitcoin they have been mining until now. Better said it will take twice as long to mine a block. This is my idea of what will happen, I could be wrong. This could mean that the cost of energy for mining Bitcoin will double. I don't really know why I wrote that, it just came to my mind.

So does that mean that mining will be less profitable? I guess that depends on where the price of Bitcoin goes, if it goes down, maybe mining will stop being profitable completely, on the other hand, if it goes up, it depends on how much up, for profits to be at least equal to what they are now. I guess all mining outfits should be run by solar, wind or hydroelectric power, less cost.

But the real question is how this halving will affect Bitcoin holders, and alt coin holders also, as alts go where BTC goes. I can see sellouts if things don't go well, prices tanking and a lot of alts becoming bags. That is one possibility, but also we could have BTC take off and reach new heights, and crypto become way stronger. I believe this is a real possibility.

Now these last few days we have seen a catastrophic drop in Bitcoin price, well maybe not catastrophic but certainly significant, and only today have I seen signs of the price stabilizing. Right now I think the price will be driven by the halvig, up or down, who knows. But the dump of the last few days is something to take into account. Many think it is the result of the wars in Ukraine and the middle East, but these have been ongoing and Bitcoin reached an ATH with the wars full on.

So I think the wars might be a factor for the downturn, but certainly not the most significative one. To me, what we are seeing is prices being set randomly by the same guys who control most economic factors in this World, maybe Crypto, to these people needs to be held down for a while and then just let the market decide the price after everyone has been scared for a while. Fiat seems to be on its last legs, but I do believe bankers, financiers, and the elites want a digital currency they can control.