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Bitcoin 'halving' to shore up market value with steady demand: Experts

The previous events fueled huge rallies in bitcoin's market value, but there is a wildcard this time in the form of the coronavirus pandemic, some analysts said.

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Bitcoin

Reuters  |  New York 

Bitcoin is about to undergo a scheduled technical adjustment as the number of new coins awarded to the computer wizards who "mine" the cryptocurrency will be cut in half, but forecasting which way its price will move afterward is more complicated now. Investors are widely anticipating this so-called "halving," the third in bitcoin's 11-year history. The previous events fueled huge rallies in bitcoin's market value, but there is a wildcard this time in the form of the coronavirus pandemic, some analysts said. "From an efficient market perspective, ...

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First Published: Sat, May 09 2020. 14:18 IST
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