Bitcoin Price will Double as Halving Date Looms Closer – Our Countdown Clock is on

Our Bitcoin halving countdown clock is on and counting backwards to May 7, 2020, the date I predict the blockchain will reach the next halving and $BTC will be more than double its year previous price per coin. [Share our clock or copy our code and embed it yourself]

Athens, Georgia. Nelson Wells is an investor, Co-founder, CEO, and Blockchain “Futurist”

Atlanta Digital Currency Fund’s chief investment officer, Alistair Milne, has said that the block reward halving of Bitcoin could push the price of the dominant cryptocurrency to massive gains in the next 12 months, or any 12 month period leading up to the halving.

Do YOU believe Milne’s claim and basis? If so tell me why, and if not, let’s hear it.

According to an article in CCN Friday March 8, 2019 titled, “Bitcoin’s Impending ‘Halving’ Could Spark Meteoric Price Boom,” the impending ‘halving’ could lead to these massive gains.

bitcoin price halving

Bitcoin’s May 2020 halving could lead to a meteoric price boom for the flagship cryptocurrency. | Source: REUTERS / Dado Ruvic / Illustration / File Photo

Bitcoin’s Impending ‘Halving’ Could Spark Meteoric Price Boom

A block reward “halving” in Bitcoin is referred to as the mechanism that decreases the amount of Bitcoin generated by miners after mining a block.

On the Bitcoin network, the blockchain, miners solve complex cryptographic problems using computing power to process transactions, which are then placed in blocks to form a blockchain.

To compensate miners, every block generates a fixed number of Bitcoin to “pay” the miners for serving the community and running the nodes which create the blocks, and this “mine” the cryptocurrency “coin.”

The block reward, or fee to miners, of the Bitcoin network decreases by half for every 210,000 Bitcoin mined. Traditionally, a block reward halving like this has led the price of Bitcoin to rally because it reduces the rate in which new BTC is produced.

As Bitcoin nears its fixed 21 million supply, the scarcity of the digital asset increases, which boosts the price and the demand from the market.

Historically, the Bitcoin price has tended to move a year before the block reward halving. While a few analysts claim that the halving is already priced in, the numbers show that it gradually gets priced over time, and even accelerates, as the cryptocurrency approaches its halving date.

See the related article by cryptocurrency author Joseph Young of Bitcoin Analysis, Bitcoin Price News at CCN.com

Meanwhile, leave me your comments and thoughts on where (and why) you think Bitcoin, Litecoin, Ethereum and other cryptocurrencies are headed into 2020 and beyond.

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Here’s A Video of the Midengine C-8 Chevy Corvette Driving in California

Yes, here below is some new video of the Midengine (mid-engine?) Corvette Running Around California, captured and edited by none other than the venerable Raphael Orlove. Chevrolet has officially tagged it the C8 vette, and they’ve even so much as labeled the #C7 #Corvette Stingray as “the Final Edition” as witnessed at Horsepower Obsessed.

Screenshot: Driven

The Midengine Corvette is already burdened with the curse of being an expensive American car. That means it will go on auction early in its production run, and Boomer money will pile onto it and relegate the thing to “collector” status before a tire ever hits the road.

Are you one of these guys who’d like to snatch one up and let it sit (mostly) and gain value? If so, we don’t judge, just tell us below! Inquiring minds wanna know.

Regardless, from a driver’s standpoint, the car shouldn’t be trapped in a garage. It shouldn’t be forced to live out its life in a climate-controlled prison, waiting for the day that it can come back up at Barrett-Jackson with LOW MILES EARLY SERIAL NUMBER NUMBERS MATCHING COLLECTOR’S EDITION.

I say this because here’s a collection of a pre-production prototypes out in the snow and slush and sleet on a twisting California mountain road, the kind of place a traditional Corvette driver would look at and resolve to stay inside and grouse about while soaking in the hotel hot tub… – see more by Raphael Orlove 

For the full article go to Jalopnik and share and give Orlove and Jalopnik some car enthusiast love.

I don’t claim the rights to this article or any post from other sites; I’m simply a fan and enthusiast myself who likes to share and get word out on rare, collectible, unique, or otherwise hard to find or appreciating well-loved cars that are classics or soon-to-be-classics. Occasionally I post them here at nelson-wells.com .

For other Classic car info or posts on Pontiac GTO’s, E39 BMW’s, Bimmer wagons, or too many timeless classic Toyota Land Cruisers, see my other posts below or on my blog. – Nelson Wells, Athens, GA

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