{"id":41,"date":"2016-04-22T20:44:00","date_gmt":"2016-04-22T20:44:00","guid":{"rendered":"http:\/\/blog.holytransaction.com\/thats-why-440-bitcoin-price-is-low\/"},"modified":"2023-01-10T01:39:52","modified_gmt":"2023-01-09T23:39:52","slug":"thats-why-440-bitcoin-price-is-low","status":"publish","type":"post","link":"https:\/\/holytransaction.com\/blog\/2016\/04\/thats-why-440-bitcoin-price-is-low.html","title":{"rendered":"That&#8217;s why $440 Bitcoin price is low"},"content":{"rendered":"<div style=\"text-align: justify;\">Today <b>Daniel Masters<\/b>, ex trader at <b>JP Morgan<\/b>, published an interesting article about the bitcoin price on Linkedin.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">In this article, Masters comments the upcoming <b>halving of rewards<\/b> for the miners and its impact on the current bitcoin price.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">Back in 2012, the mining activity reached the level of <b>210,000 blocks mined<\/b> and the first halving occured, taking rewards down from 50 to 25 BTC.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">Right after that, the bitcoin price raised significantly, from $7 to $11 in nine months.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">We are now at roughly 409,000 blocks, and the next halving will take place at 420,000, a level that is estimated to be reached by next july.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">\n<p>At that time rewards will lower again, from 25 to 12.5 BTC.<\/p>\n<div class=\"separator\" style=\"clear: both; text-align: center;\"><a style=\"clear: left; float: left; margin-bottom: 1em; margin-right: 1em;\" href=\"https:\/\/1.bp.blogspot.com\/-VmH6CffNho4\/VxqPLcWzbjI\/AAAAAAAAAZo\/-hsOGsNK8vU1YnSccFjZqv21gZTENiIegCLcB\/s1600\/The%2BEthereum%2Bgrowth.png\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/holytransaction.com\/blog\/wp-content\/uploads\/2016\/04\/TheEthereumgrowth.png\" width=\"320\" height=\"240\" border=\"0\" \/><\/a><\/div>\n<h3><b>Bitcoin price will rise<\/b><\/h3>\n<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">According to Masters, it\u2019s reasonable to expect another price rise following this event.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">Here is his explanation:<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\"><i>\u201cPrices so far in 2016 have been relatively stable. That tells me that there is enough new investment and real time demand to match the creation of $575m new coin. It seems obvious that if that dollar-sized demand persists, which I believe it will, that the price of bitcoin must rise to meet it\u201d.\u00a0<\/i><\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">In a few words, it\u2019s a simple matter of offer and demand, exactly the same way as it happens in the oil market, where a reduction in production determines a rise in price, given a stable demand.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">That\u2019s basically why<b> the current level of $440 is to be considered low.<\/b><\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\"><a href=\"https:\/\/www.linkedin.com\/pulse\/how-420000-might-bitcoins-magic-number-daniel-masters\">Click here to read the original article.<\/a><\/div>\n<p>Open your free digital wallet <a href=\"https:\/\/holytransaction.com\/app#!\/signup\">here<\/a> to store your cryptocurrencies in a safe place.<\/p>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>Today Daniel Masters, ex trader at JP Morgan, published an interesting article about the bitcoin price on Linkedin. In this article, Masters comments the upcoming halving of rewards for the miners and its impact on the current bitcoin price. Back in 2012, the mining activity reached the level of 210,000 blocks mined and the first [&hellip;]<!-- AddThis Advanced Settings generic via filter on get_the_excerpt --><!-- AddThis Share Buttons generic via filter on get_the_excerpt --><\/p>\n","protected":false},"author":2,"featured_media":424,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[37,76,100,110,319,417,432,434,514,548],"tags":[764,791,801,996,1081,1094,1096,1173,1206],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v19.6 (Yoast SEO v22.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>That&#039;s why $440 Bitcoin price is low -<\/title>\n<meta name=\"description\" content=\"Find out how Bitcoin performed in 2016 and what factors impacted the cryptocurrency market. 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