Crypto market won’t react to BTC halving, says Morgan Creek Digital co-founder

  • Morgan Creek Digital co-founder and executive, Jason Williams, stated that BTC halving might not impact BTC price.
  • While many do not agree with this, there are opinions that say that halving's impact might come long after the event itself.
  • Meanwhile, the BTC price model hints at the price surge that will take BTC to $100,000 by 2022.

The crypto community has high expectations of Bitcoin price in the final weeks of 2019, although the coin has yet to move in any significant way. With the approaching halving, scheduled to occur in April/May 2020, many expected that the coin will go on one of its historic bull runs by now.

Jason Williams, the co-founder of Morgan Creek Digital, appears to think differently. Yesterday, December 1st, he announced his prediction that BTC halving might not have the same impact on the market as it once had. If true, this is expected to have a rather bad impact on the Bitcoin community, and even the coin’s ecosystem.

Once the halving occurs, Bitcoin miners will start receiving only 6.25 BTC per solved block. With rewards cut in half from the current 12.5, many were counting on the price growth, which would continue to make mining profitable. However, if this doesn’t happen, the rewards will truly be cut in half, making mining unprofitable for the majority of participants.

BTC price surge might indeed be late

Of course, it is unlikely that halving will have absolutely no effect on the price. However, experts remain uncertain as to whether the effects will be felt before or after the event.

Even so, Williams is not the only one who seems to be unimpressed by the pending event. Bitmain CEO, Jihan Wu, also stated that the bull market might not come immediately after the halving process, according to 8BTC recent report. However, he still believes that the BTC price will continue to climb after a while. Right now, many expect that the halving would bring Bitcoin’s price to $100,000 or even higher in years to come, which is what Bitcoin’s price model itself indicates.

About the author

Avatar
Ali Raza
A journalist, with experience in web journalism and marketing. Ali holds a master's degree in finance and enjoys writing about cryptocurrencies and fintech. Ali’s work has been published on a number of cryptocurrency publications.

Leave a Reply

Investing is speculative. When investing your capital is at risk. This site is not intended for use in jurisdictions in which the trading or investments described are prohibited and should only be used by such persons and in such ways as are legally permitted. Your investment may not qualify for investor protection in your country or state of residence, so please conduct your own due diligence. This website is free for you to use but we may receive commission from the companies we feature on this site. Click here for more information.