Bitcoin: Most Dramatic 2020 Halving could cut supply by $63M a Week

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Bitcoin (BTC) advocates continue to focus on the May 2020 block reward halving this week as the impact on price becomes more apparent.The block reward refers to the amount of new Bitcoins miners receive for mining a new block. Currently 12.5 BTC, after the halving, the reward will fall to 6.25 BTC.Previous halving events have triggered upward price motion, leading to suggestions that 2020 will be no different. Additional studies, notably the popular stock to flow model, have corroborated the theory that Bitcoin price must surge as the mining reward decreases.Comparing historical data, Crypto Rand noted that the 2012 and 2016 halvings removed $302,400 and $8.19 million per week from circulation respectively. 2020’s “most dramatic” halving, the analyst forecast, will remove $63 million. Read more 
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