Bitcoin Demand Upsurges After The Third Bitcoin Halving Event 2020

Umme Haani
Umme Haani is a writer for Thecoinrepublic. she contributes a researched piece on cryptocurrencies and updates. Umme is an aspiring engineer who immensely enjoys writing and technical writing brings the best of both worlds under one roof for her.
  • According to recent research, the demand for Bitcoin (BTC) continues to rise across all countries after Bitcoin Halving Event 2020.
  • The data of the research about Bitcoin ATM News revealed that there was an increase of 90% from the last year of functioning Bitcoin ATMs around the globe.

According to recent research, the demand for Bitcoin (BTC) continues to rise across all countries after Bitcoin Halving Event 2020. However, investors have raised concern as the block reward halving can disincentive the miners. Furthermore, they think that this can undermine the security of the network. Nevertheless, the data of the research about Bitcoin ATM News showed that there was an increase of 90% from the last year of functioning Bitcoin ATMs around the globe. This suggests the adoption of Bitcoin (BTC) is increasing. Now the total no. of Bitcoin ATMs is 8000.

Detailed Report of Bitcoin Block Reward Halving Impact

Bitcoin continues to be the leader in the crypto market. The daily trading volume of Bitcoin (BTC) is more than $10 billion which is way high than Ether (ETH) and Litecoin (LTC). On March 17, the price of Bitcoin (BTC) was $4,994 and the present price is $9,344. That means the prices of the coin have increased by more than 87% from March 17. In May, the price of the coin has increased by around 10%. That means, the investors and traders were bullish on the block reward halving.

Arcane Research also reported that the price halving event has made the miners back to the Bitcoin SV (BSV) and Bitcoin Cash (BCH) network. However, these two showed a dire drop in their share of the total SHA-256 hash rate.

As the present price of the coin is still over $9,000, it seems they are maintaining a positive view on Bitcoin (BTC). However, the price of the coin fluctuates too much. The coin made a high of $10,364 on February 13 after that it fell to $4,994 in three months.

The positive news is the present strong volume of Bitcoin after May 11 suggests the institutional investors are bullish on the Bitcoin. Exchange operators saw an increase in another crypto from the starting of lockdown.

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