There were many hopes for 2019 to be a bullish year, but after a series of bearish periods, will the crypto market recover in 2020?
Market analysts and crypto specialists have divided opinions regarding how the crypto landscape will look in 2020. Let’s take a look at some of the main factors that could influence the course of coin prices in the year to come.
The Bitcoin Halving
One of the biggest events that will occur in 2020 will be the Bitcoin halving. On May 20th, 2020, the Bitcoin block reward will be reduced by 50% less, meaning that only 6.25 BTC will be generated when a block is mined instead of 12.5 BTC. Halvings, in all cryptos, have been known to permanently affect the price of its coin.
Bitcoin has already gone through two halvings, and after each event, the Bitcoin price increased tenfold. Bitcoin is programmed to halve every four years until the supply reaches its maximum limit.
BTC is based on a deflationary model. This ensures that fewer Bitcoins will be generated over time, and the supply will reach its final…