The co-founder of Morgan Creek, President and CEO of PRTI, Jason A. Williams, has said the upcoming 2020 Bitcoin halving will have no impact on the price of BTC.
While this may go against the belief of crypto enthusiasts, who consider that Bitcoin price does rise before and after every halving, Jason’s opinion seems to be correlated with recent events in the cryptocurrency market.
If history repeats itself, there’s always a high volatility 12-18 months after every halving. For example, the first halving, Bitcoin price moved from $11 to around $1,100, and fell back to $220.
The same volatility was noticed during the second halving. Bitcoin went from $230 to $20,000 and fell back to $4,000.
Unpopular Opinion –
Bitcoin halving in May 2020 won’t do anything to the price. It will be a non-event.
— Jason A. Williams 🦍 (@JWilliamsFstmed) December 1, 2019
Jason’s assumption corresponded with CoinDesk’s Director of Research, Noelle Acheson’s opinion on the next halving.
Noelle said the next halving may not push the price of Bitcoin an inch, quoting different observations from analysts.
She noted that the much-awaited Bitcoin halving is not a fundamental driver of price. In her observation, the model around halving will continue to hold until they don’t.
Meanwhile, in an analysis by a crypto observer by the pseudo name ‘Crypto Einstein’, the next halving may push the price of BTC to $100,000 considering its previous step.
Bitcoin halving history 😱
History always repeat itself. pic.twitter.com/Dug0iyseze
— Crypto Einstein (@BitcoinEinstein) November 30, 2019
The posted graph by the enthusiast indicated that the fourth and the last halving may push the price of Bitcoin to a level as high as $300,000.
While his analysis may be a mere assumption, the crypto world is hastily expecting the next direction of price after the 2020 halving as some say it may make miners quit, causing the price of Bitcoin to fall.