Analysis: It is expected that halving of mining incentives in 2020 will push BTC prices up sharply

According to Bloomberg, the next halving of the bitcoin mining incentive is expected to be reduced from 12.5 BTC to 6.25 BTC in May 2020. According to a recent poll by Twitter user planB, 61% of the 2,500 participants expect a significant increase in BTC prices. As the mining awards will be halved, the bitcoin issued in circulation will be reduced, which will make Bitcoin more scarce than it is now, so the price should rise. After halving the first mining award in the fall of 2012, bitcoin prices soared from $10 to $1,000 in one year. The second halving in 2016 caused bitcoin prices to surge to nearly $20,000 at the end of 2017. Major bitcoin bulls (such as Morgan Creek Digital co-founder Anthony Pompliano) have been drawing attention to the halving of 2020, emphasizing its importance.