The crypto winter seems to be finally over, with Bitcoin reaching $9000 recently. According to CoinMarketCap, Bitcoin hit a low of $3191.30 at the end of 2018 after reaching an all-time high of close to $20,000 in December 2017. This year alone Bitcoin has increased in value from around $3400 in January 2019 to hovering around $9000 in June at the time of writing.
Bitcoin return on investment since launch
Since the time of launch in 2009 Bitcoin has had a 6,654% ROI according to CoinMarketCap.
What is the Bitcoin halving?
The bitcoin halving is when the reward for mining bitcoin will be halved. Currently, the reward for bitcoin miners is 12.5 BTC per block. At the next Bitcoin halving, this figure will be reduced to 6.25 BTC, this is estimated to be in May of 2020. The previous bitcoin halving was on the 9th of July 2016 when the bitcoin block reward was reduced from 25 BTC to 12.5 BTC.
How does the Bitcoin halving affect Bitcoin price?
The Bitcoin halving increases the scarcity of Bitcoin as the number of Bitcoin mined per block is less. The more scarce the original crypto is the greater the demand will be, which will likely lead to a price increase. History tells us that approximately 12 months away from a bitcoin halving event, we can expect a lot of price volatility leading up to the event.
2019 Bitcoin price predictions from experts
The crypto winter is finally over, this also means crypto experts have started making bold Bitcoin price predictions. Here are some of the top predictions from crypto experts:
- Fundstats Gobal Advisors, Tom Lee expects ‘FOMO’ due to a breach of the $10,000 price mark to push BTC to $40,000 in a few months.