A gentle reminder we still have 677 days until the next halving

The next block subsidy halving doesn’t happen for another (approx) 677 days. This means there will still be 1800 new coins produced per day between now and then. Whatever method you’re using to calculate your price predictions, be sure you’re factoring in the fact that at $7k per coin, the market has to absorb $12.6million USD per day (through purchases or via miners hodling) between now and the next halving. Whatever the sentiment from those who currently hold bitcoin, we still have to endure the fundamental reality that the mining difficulty is still increasing, reducing mining profitability, meaning a greater % of mined coins needs to be sold to cover mining costs, putting downward pressure on the BTC price.

But also remember that in 34 years there will only be 3.5 new coins produced per day, (approx 0.02 BTC per block); tiny compared to today’s rate.

Submitted July 18, 2018 at 06:55AM by iwearahoodie https://ift.tt/2Lf2M41