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Peter Schiff Tries to Debunk Bitcoin Halving Hype

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Peter Schiff challenges the Bitcoin halving hype, arguing that its impact on supply growth rate won't necessarily boost prices as much as enthusiasts expect

Peter Schiff challenges the Bitcoin halving hype, arguing that its impact on supply growth rate won't necessarily boost prices as much as enthusiasts expect

The upcoming halving will decrease the reward from 6.25 to 3.125 bitcoins per block, a mechanism designed to mimic the scarcity of resources like gold and control inflation. Leading up to the May 2020 halving, Schiff observed a bearish trend in Bitcoin's price action, despite what he described as bullish global financial conditions for Bitcoin. He criticized the notion that the halving would automatically result in a price increase.bugs have been buying in anticipation of the May 12th halving. It's widely anticipated that following the halving Bitcoin’s price will surge.

 

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