The Benefits of Bitcoin Halving on Its Functionalities
Recently, Bitcoin received more attention with the imminent halving. Numerous individuals shared their thoughts on Bitcoin’s performance lately, as price oscillated. Individuals expressed their views on Bitcoin, capable of being a haven asset, a means of exchange, or as a tool for investment.
Trace Mayer, Bitcoin Knowledge Podcast host, commented on Bitcoin’s performance and explained how the crypto asset helps people, where governments’ currencies are not usable. Mayer believes that Bitcoin empowers people to hold their keys, run their private node, and be in charge of their money. He noted that it is a robust tool to control one’s emotions when it comes to money.
Mayer on the Impact of the Imminent Bitcoin Halving
Mayer said that there is a possible upsurge in Bitcoin’s price following the halving. According to him, people are not interested in its price, but the transaction fees. Mayer thinks that after the halving, the price crunching will start, and the market will readjust to accommodate the flow of coins.
Mayer also noted that the cryptocurrency is looking forward to a six-figure price by the end of 2021.