฿ Bitcoin BTC/USD Daily Video, January 17, 2020

[Sive Morten]

Good morning,

Despite the "dead cat bounce" on BTC - our plan is the same. We wait response and respect of strong daily resistance around 9K area:

 

[soul rebel]

Greetings Sive
I am wondering what is your view regarding the coming Bitcoin Halving due in May this year? With block #630,000 on the horizon the number of Bitcoins mined every 10 minutes will reduce to 6.25 significantly reducing the number of coins issued. That along with possible institutional investors looking to buy up the asset, do you think we will see any significant downside before the rally continues in 2020?
Thanks for all your video updates, much appreciated!
Viresh

 

[Sive Morten]

Greetings Sive
I am wondering what is your view regarding the coming Bitcoin Halving due in May this year? With block #630,000 on the horizon the number of Bitcoins mined every 10 minutes will reduce to 6.25 significantly reducing the number of coins issued. That along with possible institutional investors looking to buy up the asset, do you think we will see any significant downside before the rally continues in 2020?
Thanks for all your video updates, much appreciated!
Viresh

Hi mate,
Indeed this is one of the major topics that actively discussing now. Opinions differ. Although indeed, it has reason to worry about. Now the breakeven price on Bitcoin mining on average - around 4-5K per coin. Halving probably will make it more expensive. It is too difficult question as a lot of factors impact on BTC price and mining activity. Recent news that we have tells about building big new powers for BTC mining. It costs millions of dollars. Hardly miners do not know about halving. It means that they have no intention to close this business. Thus, impact of halving could be muted or not as strong as it seems by some people. So, the best choice for us is to avoid any emotional reaction and to not dramatize situation. Probably as we go closer to the May - as more signs we should get from the market.

 

[soul rebel]

Thanks for your insight Sive, I suppose business's operating in the sector have a vested interest in hyping up public's demand by creating 'fear of missing out'. As you rightly put it - let's see what the market says.
This time last year I was about to buy some Bitcoin (for long term investment) and anticipating the $2000 low which it didn't quiet reach and since then have been trying to assess the next best opportunity to buy the asset.