Binance CEO gives his opinion on Bitcoin halving

[Wilmer Garcia 0]

Changpeng Zhao, better known as CZ, gave his opinion on the upcoming halving to be lived on the Bitcoin network in the coming days.

With exactly 42 days to go before the next reduction of the bitcoin network block reward, CZ commented that the result we will see of this event will be a "pretty simple logic" when commenting that we will be facing a reduction in supply with a demand that is on the rise.
 

[BTC Future 3946]

Basically the total supply won't get reduced, it will still be new Bitcoins added, I don't undestand why so many influencers are making this mistake. The supply of "new" Bitcoins will be reduced by half. The total in circulation will still be inflated, although by a few number. Probably CZ and others that are commenting on the halvening should have taken a simple course on economics back at school instead of just coding all day. Anyway it still makes a point that miners won't dump their new mined coins this easily, as this time it won't be that much. Bitmain has plans even for 3nm ASIC's so probably they will be able to cover rise of hashpower for the next 3 years. Still I wouldn't expect price to make a 20x until 2021 as many claim. Might reach the old all time high at some point in the next two years, it might go down a little more and fluctuate. There will be more factors to consider as economies are entering a recession. 

[Laboni 755]

Yeah, it won't take too long. But if the price of bitcoin goes down, then it will increase. This is exactly why the CEO of Binance gave his opinion about half of Bitcoin because he knows where the value of Bitcoin will go. But the market, in its previous state, will actually rise above the abyss. The demand for the Binance market will increase.

[Whited35 15285]

We are very close to the expected Bitcoin halving event. I believe market dump can be possible before the halving event. I am also thinking like whale might also make some activities to manipulative the prices of Bitcoin in the cryptocurrency market. 

[rekter 8129]

16 hours ago, Wilmer Garcia said:

Changpeng Zhao, better known as CZ, gave his opinion on the upcoming halving to be lived on the Bitcoin network in the coming days.

With exactly 42 days to go before the next reduction of the bitcoin network block reward, CZ commented that the result we will see of this event will be a "pretty simple logic" when commenting that we will be facing a reduction in supply with a demand that is on the rise.
 

Any link to this statement would be nice because i didn't quite catch what he said from this.

 

9 hours ago, BTC Future said:

Basically the total supply won't get reduced, it will still be new Bitcoins added, I don't undestand why so many influencers are making this mistake. The supply of "new" Bitcoins will be reduced by half. The total in circulation will still be inflated, although by a few number. Probably CZ and others that are commenting on the halvening should have taken a simple course on economics back at school instead of just coding all day. Anyway it still makes a point that miners won't dump their new mined coins this easily, as this time it won't be that much. Bitmain has plans even for 3nm ASIC's so probably they will be able to cover rise of hashpower for the next 3 years. Still I wouldn't expect price to make a 20x until 2021 as many claim. Might reach the old all time high at some point in the next two years, it might go down a little more and fluctuate. There will be more factors to consider as economies are entering a recession. 

Not sure where this is coming from but CZ is well aware how bitcoin halving works. He is not just another influencer but an OG, i mean he has worked on cryptos from 2013 or something like that, and he has to be aware of everything that happens in Binance otherwise binance wouldn't be so successfull.

 

I know that there are some influencers that don't know anything about first thing about cryptos, but CZ shouldn't be counted as one of them. The quality of Binance didn't happen by accident. The amount of deep research they do on different projects before listing is astonishing.

Edited April 2, 2020 by rekter

[Zezo 306]

I think halving will reduce the price of bitcoin this time, contrary to expectations, as it happens every time we wait and see

[CryptoMaxim 2372]

15 hours ago, omaralirajbd said:

Dear friend you share a good news for cryptocurrency. I think binance CEO say right. Bitcoin halving important event for trader because they reduce the number of new bitcoin being generated by network.

That's right. But I have a question: how quickly will there be a reduction in offers ? I accept the possibility that this will not happen immediately after halving. But gradually.

[bliznec 22268]

Where there is a demand for bitcoin, there is an offer, and where there is an offer, there is a high price. This clearly affects the price of bitcoin. Everything will depend on Halving in May 2020, many are waiting for this event. 

[malik6314193 5449]

Its mean that reduction of bitcoin supply will lead to increase in demand and it will lead to increase in price i think we should buy the bitcoin amd hold it.  

[Ch Ayyan 9781]

I read about  that before  also. Manw people  is asking  about  that bitcoin  halving  I comming soon  this year. And we all are waiting  because  we can see that first time.

[Cammer 4609]

On 4/1/2020 at 4:38 PM, Wilmer Garcia said:

Changpeng Zhao, better known as CZ, gave his opinion on the upcoming halving to be lived on the Bitcoin network in the coming days.

With exactly 42 days to go before the next reduction of the bitcoin network block reward, CZ commented that the result we will see of this event will be a "pretty simple logic" when commenting that we will be facing a reduction in supply with a demand that is on the rise.
 

With the demands increasing, the price of Bitcoin will increase too. That's how every sale works in the market whether it's crypto or fiat. Binance CEO is 100% right.

[Michael0606 861]

I personally do not trust businessmen so we already know that they feed on the losses of people, while with technical analysis you have everything you need to determine the movement of the price if it rises or falls, since if I hear news  I am going to get confused and important people and I have already verified it, nevertheless Excellent information, friend.

[tienda 8776]

There are many business man like Binance CEO predict or gives their opinion about the before and after halving, but I think this halving will be different like the last halving, the actual situation is not like the last halving situation.

[andrehol 16294]

I am glad that the opinion of the CEO of Binance fully coincides with my opinion. Halving will reduce the number of bitcoins mined. This means that the owners of bitcoins, expecting a price increase, will sell them only as a last resort. The number of bitcoins sold will decrease, and the number of people who want to buy will increase

[Rezort 846]

I think that bitcoin will reach the highest price within last 2 years just before the halving because the hype will be so big and powerful that everyone would buy bitcoin.

[Anoop9634 12]

He says everything accurately, it ought to be in this way, in light of the fact that the quantity of offers will turn out to be less, and the interest just more. This will prompt a sharp increment in costs.

[bentayebsalah 2280]

What Binance CEO said is correct and this bonus volume reduction will increase the value of Bitcoin and increase its price

Edited April 12, 2020 by bentayebsalah

[rianpedia 816]

3 hours ago, bentayebsalah said:

What Binance CEO said is correct and this bonus volume reduction will increase the value of Bitcoin and increase its price

CEO Binance has also been paying attention to transaction movements in his market. of course it's a good and mature policy. will continue to have an impact on the bitcoin market which is always above the peak.

[Ridam 7455]

The big pump is coming as every one knows it because in the first quarter of 2020 Bitcoin did pretty well and during halving as the ceo says the supply will decrease at that time the Price gonna be high for sure.

[Ms.o 3322]

Many are expecting for price increase after the halving as it makes some confusion to others that bitcoin will be cut in half which is actually not,only the miners rewards will be cut into half,but still by this means, since mining new blocks of bitcoin is not as much as they can do from today,the selling activity will not as active as it is so price can possibly increase.

[Nezar 7169]

The price of bitcoin will increase despite the significant decline that the market is witnessing now, and prices will start to rise after the event of the half a few weeks ago, and this is what everyone is talking about and waiting for.

[pablomarwan 3082]

It means that there is hope for currencies to achieve good returns in this upcoming event. It is a good thing to have some analyzes that motivate you to plan well. If this is what you want to communicate to us from your article, this is very important and good.

[Jeet Narayan 1940]

In Bitcoin halving , Bitcoin network can reduce it's mining by half . And Bitcoin price also moving in upward . Supply of Bitcoin decrease and demand of it increasing day by day so Bitcoin price may increase .

[magd 5231]

Now the ideas about the next half period have become clearer and more credible because this statement is a statement by the manager of the most popular cryptocurrency platform, but my question is will reducing the supply really increase the demand to reach the desired price or will the whales interfere

[Raqeebzy 6456]

That's is the main essence of halving, to control the inflation rate of the bitcoin. The reward to miners will be halved, so it will be scarcer than before, more demands, less supply.