The Bitcoin halving is drawing ever closer, and we are only eight weeks away from reduced block rewards. Many people are anticipating a significant impact on the Bitcoin price, yet no one knows whether or not that will happen.
The 2016 Bitcoin Halving Is Critical
Over the past few months, community members have been kicking around various topics in the world of Bitcoin and cryptocurrency. Despite the block size debacle, most of the focus has been on the upcoming Bitcoin block reward halving, which sees mining rewards drop from 25 BTC to 12.5 BTC per block.
As a result of this halving, there will be fewer Bitcoins generated on a daily basis, which is a positive thing. However, many people expect the Bitcoin price to go up by a significant margin as of this halving, and there is no indication this will be the case. Granted, Bitcoin usage is increasing year over year, which may be a sign of more people getting interested in using the cryptocurrency.