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Hackernoon logoWho Will Benefit Most From The Upcoming Bitcoin Halving? by@Sergeenkov

Who Will Benefit Most From The Upcoming Bitcoin Halving?

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@SergeenkovAndrey Sergeenkov

Cryptocurrency analyst. Founder and editor at btcpeers.com

The cryptocurrency market is once again seeing volatility after Bitcoin started to crash after last week's surge. During the second week in April 2020, the coin managed to climb above the $7k mark, and remain between $7,100 and $7,300 for days. However, as the week approached the end, Bitcoin suddenly crashed once more, pulling the rest of the market down with it.

This volatility, added to the existing fears caused by the coronavirus pandemic, is keeping traders and investors on edge. Not to mention the fact that Bitcoin halving is now less than a month away, according to current estimates.

What Will Happen to The Bitcoin Price?

Naturally, all of this caused a lot of people to speculate rather heavily about the future of the coin's price. Many believe that the price will continue to drop, likely to a support at $6.3k in days to come. However, there are also long-term predictions regarding the impact of the block reward halving and recent money printing.

As many may know, the US government โ€” as well as many others โ€” started printing huge quantities of new money to provide short-term relief to their citizens. However, when the crisis blows over, that money will remain in circulation, knocking the value of numerous currencies.

Anthony Pompliano believes that BTC might surge up to $100k per coin due to money printing alone.

People are already abandoning traditional markets for crypto, and while this is driving the price forward, there are also whale schemes that are knocking it back down.

With Bitcoin halving being the most important upcoming event, it will be interesting to see how it will impact the coin, and when. Historically, it took about 11 months for the halving to impact BTC price and cause major surges.

However, this was also back in the day when cryptos were still largely unknown. These days, when the entire world keeps a close eye on cryptocurrencies, and supply and demand are everything, this period may be significantly shorter.

Pompliano also recently addressed those claiming that BTC price will remain the same after halving. He said,

"If incoming daily supply drops 50%, then you would need a 50% drop in daily demand as well to keep the same price. Good luck if your thesis is built on the idea that demand for Bitcoin is going to drop 50%."

Who Will Win Most From The Halving?

The fact is that Bitcoin halving is coming, and the probability of its price skyrocketing is quite high. With that in mind, who can benefit from it the most?

My theory is that the halving will cause such a price surge this time, that the arrival of new crypto users will be greater than ever before.

However, the crypto space still remains relatively complex, although the process of simplification is making things simpler than they have ever been in the past. Plenty of companies, such as Binance, are creating user-friendly software for trading digital coins, storing them, buying, selling, managing, and more.

Binance is even working on its own Binance Card, which will be accompanied by Binance Card App. All that users will need to do is deposit coins in the app, and their cards will be ready to be used. It will likely be the most user-friendly crypto card to date, and it will be as easy to use as any traditional card, according to the exchange's announcement.

And this is really the key. With so many new users that are expected to arrive, Binance, as well as other companies that can create the simplest and most user-friendly solutions will be the biggest winners.

The halving will cause a price surge, the price surge will attract newcomers, and firms with the simplest software will gain countless new customers.ย 

Another example is a project called Lead Wallet, which has all the potential to become the world's simplest crypto wallet, as its website claims. Lead Wallet offers all products and services for Android, iOS, web and desktop users, it is easy to set up and use, and it even has its own Lead Token.

The Lead Wallet project is currently open for Private sale, as well as the IEO sale on Emirex. And, since it holds the potential of becoming one of the simplest and most popular wallets among newcomers to the crypto industry, owning its tokens might be something to consider.

As mentioned, those who can provide the simplest solution for crypto novices that are about to enter the industry will likely see massive overnight growth.

Conclusion

By now, everyone is aware that there are no certainties when it comes to the crypto industry. However, there is more than enough data to draw some valuable conclusions, based on the past performance of Bitcoin's price.ย 

Even these conclusions are questionable, since the world is seeing a crisis that it has not seen for a long time, and it has yet to be seen how BTC might perform during such a crisis. However, this is what the coin was created for, and it might slowly start accepting its role, as the banks around the world are already failing once more. Projects like Lead Wallet and Binance Card might benefit the most out of this situation if BTC can take full advantage of the ongoing crisis.

Disclaimer

I have my own vested interest in Binance, and Bitcoin because I am a hodler of BTC and BNB cryptocurrency. And I have vested interest in Lead Wallet because I will buy LEAD crypto on token sale, this will be the 2nd time when I participate in crowdfunding campaign like this; the first time I participated in Hacker Noon crowdfunding campaign on StartEngine by buying their shares. The article is not an investment advice, this is just a result of my own research.

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