Bitcoin, the world’s largest crypto currency, will undergo a new halving process a few months from now. With this situation, the block award in the network will be reduced from 12.5 BTC to 6.25 BTC.
Some cryptocurrency analysts think that the supply-demand balance in the market will change dramatically with halving, which will have a positive impact on the BTC price.
Do investors participate?
We don’t know if the analysts who say the BTC price will go up will be right. However, transactions over the past few months have shown that some investors may have started to make HODL. If investors are actually starting to do HODL, it may mean that they expect a hike after halving.
According to information shared by Mati Greenspan, a total of around 6 million BTCs have changed hands over the past 12 months, which is less than half of the total BTC in circulation.
Alistair Milne also reported that almost 70 percent of the BTCs kept in personal wallets have not been moved during the last six months.
The fact that people are not touching the BTCs in their wallets may mean that a large period of HODL has begun. In such a case, we can see that halving in 2020 really affects the Bitcoin price seriously.
Of course Not Definitive
All this data does not mean that the price of Bitcoin will surely rise after halving. Some crypto currency commentators even say that halving will not affect the BTC price.
One of the well-known names of the sector is Meltem Demirörs. He recently said in a statement that halving will not affect the BTC price.