The price of bitcoin has been nuts. If you bought bitcoin in April, you’ve earned 60 percent. If you bought bitcoin this weekend, you’ve lost ten percent. As I write this, the price has dipped down back under $700. A few weeks ago, $600 seemed a long way off.
Most market watchers believe that the recent price spike has been fueled by wealthy people in China looking for an alternative store of value. Now its price is falling. Who knows what will happen next?
Except, we do know one big event that’s coming: the supply of bitcoin will start to grow half as quickly on or around July 10, according to Marco Streng, CEO of Genesis Mining. “It was built in from the beginning,” Streng told Observer during a phone call. “This event was known since the start of bitcoin.” When the