The Bitcoin reward halving will be happening in May 2020 and the community is optimistic that its price will rise. Meanwhile, Grayscale, a crypto asset manager, has conducted a survey on this upcoming event and recently published his results.

More than half of the poll respondents (56%) opined that, the upcoming reward mining reduction is not priced in. About one-quarter of the respondents (27%) agreed that the market has already incorporated the event into the price of bitcoin. Whereas the remaining 17% of the respondents couldn’t decide.

Halving makes the assets scarcer, and previous events have saw the price of the coin skyrocketing. After the first halving, bitcoin price surged 100 times in just a year. The second halving also saw the price of the coin making a 33 times rise.

That being said, we still have people who believe that this year’s version of the halving will not bring any gains to investors.

Their argument is pretty obvious. Such investors have already priced in the halving, meaning that they are not expecting anything extraordinary in May 2020. The bitcoin rally that occur in Q3 2019 could be related to bitcoin’s future supply adjustment.

Leading crypto analyst, Willy Woo opined that, historically, we front run into halving with a bullish setup. But since we are entering next year’s halving in bearish price action, he doesn’t expect a massive rally for bitcoin.

Some analysts are also pointing to Litecoin’s lackluster price performance after its recent halving, to predict similar fate for bitcoin. However, PlanB, a crypto analyst, believes that, such comparisons are baseless. He said Litecoin doesn’t follow its stock-to-flow model like how Bitcoin does.



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