Bitcoin Becomes a Potential Asset in the Pandemic Period
Thursday, June 4, 2020
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Covid's 19th pandemic, which caused people to undergo social restrictions, has made the economy sluggish. Many companies are forced to cut budgets, or are forced out of business, which requires employees to be laid off. Meanwhile, until now no one has been able to ascertain when this pandemic will disappear, and the economy will recover.
But for those who have been trying their luck in the crypto currency Bitcoin, next week is an opportunity to make a fortune. Because the Bitcoin Halving momentum will take place next May 12, and it is predicted to boost the Bitcoin exchange rate which has now reached around USD 10 thousand per BTC.
"Bitcoin Halving is the momentum that has been eagerly awaited by many people, especially those who have been investing in Bitcoin. When referring to Bitcoin Halving before, Bitcoin Halving is predicted to affect the Bitcoin exchange rate again this time."
Bitcoin Halving by the creators of Bitcoin is intended to keep the crypto currency exchange rate secure. On May 12, the fee or 'Block Reward' received by the miners will be cut from 12.5 BTC per transaction to 6.25 BTC per transaction. This makes the flow of new money creation less, and affects the exchange rate.
Bitcoin was first launched in 2009. At that time, each miner could get 50 BTC per transaction. The first Bitcoin Halving took place in 2012. At that moment, miners' pay was cut from 50 BTC per transaction to 25 BTC. In a period of 12 months, the Bitcoin exchange rate skyrocketed to 8,000 percent.
Exchange rate
At the second Bitcoin Halving momentum in 2016, the exchange rate rose by 1000 percent. There are currently 18.2 million BTC on the market. The digital currency is planned to only circulate as much as 21 million, and is predicted to occur in the next 2040.
"The Momentum of Bitcoin Halving is the right momentum for people who have been unfamiliar with Bitcoin to learn or start investing in Bitcoin."
For people who are interested in learning or starting to invest in Bitcoin or other digital assets, Binance in collaboration with Cryptoiz is holding a special Battle for Binance users, with a total prize of USD 2500 for ten winners.
In the trading competition which was held from May 5 to May 26. The winner will be chosen based on the percentage of net profit compared to capital. First place is the participant with the highest net profit percentage compared to capital.