Bitcoin halving completed, nothing major

The Bitcoin halving has happened, and we are all still alive, this is Bitcoin! The first block of 12.5 BTC was mined by the F2Pool mining pool at 17:46 (GMT). Half an hour before the halving, the Bitcoin price and hashrate only dropped by 5%, and now appear to have stabilized.

The speculation is over and all possible changes in Bitcoin’s value will probably happen in the coming months.

Bitcoin has seen some volatility over the past few months, which is generally positive considering that the price of Bitcoin rose from $420 to $630 in 3 months and reached $789.78 on June 16 (Bitfinex data).

So what is the future of Bitcoin after the halving? Some people worry that the reduction in block rewards will cause a large part of miners to abandon the Bitcoin mining industry, causing a sharp drop in the speed of the Bitcoin blockchain, which in turn will cause the price to fall, prompting more miners to flee, and in the worst case, may lead to the demise of Bitcoin (death spiral).

This is the worst-case scenario for Bitcoin, but it is unlikely to happen to the top cryptocurrency with a market value of $10.07 billion.

Innovation and development of mining hardware equipment, such as Antminer S9 or S7.

Some believe that the new ASICs should be able to keep the supply and demand scale in balance, keeping the Bitcoin blockchain healthy.

The Antminer S9 has a hashrate of 14.5 TH/s. However, since supply is limited, we should see some fluctuations in the coming months, which will affect all users and Bitcoin-related companies.

“With the halving now behind us, we expect to see some volatility in the Bitcoin price in the coming weeks,” said Vlad Cealicu, co-founder and CTO of CryptoCompare. “One area to watch out for is Bitcoin mining contracts and how mining operators handle the reduction in block rewards.”

However, one thing is certain, the halving has already happened, and nothing major has happened. We still don’t know who Satoshi Nakamoto is, but whoever he (she), or they are, should be proud that Bitcoin has once again survived the halving and proved itself.