It’s that time again. Time to spin the wheel of predictions and see where the needle lands. Will the price increase? Will the price decrease? What about the fundamentals? Will China buy more bitcoins because of capital controls? All of these questions and more will be answered with wild, unsubstantiated speculation because I heard over in a chatroom that a whale is going to pump the price so you better buy now. Bitcoin is halving, and with the increase in difficulty comes an increase in speculation about the future of the digital currency.
One of the most enduring truths in the bitcoin space is that beneath all the tecno-babble and political interests, bitcoin believers deep down really only care about the price. Namely, that the price goes up. In a clear indicator of a flawed market, everyone involved in bitcoin has a strong interest in seeing the price rise. Drawing parallels to the real estate market, the miners, sellers, traders, exchanges, investors, everyone involved, all want bitcoin to increase in price. No one