A new poll reveals the majority of bitcoin investors believe the cryptocurrency’s price will drop significantly after next week’s block reward halving.
According to a poll conducted on May 5, nearly half of respondents expect the price of bitcoin to decline after the mining reward reduction, which will cut block rewards on the BTC blockchain to 6.25 coins per block. New bitocins entering hte market will, as such, be reduced from 1,800 to 900 per day.
Popular cryptocurrency user CryptoDonAlt created a poll on Twitter asking respondents their expectations for bitcoin’s price post-halving. 48% of the 10,000 respondents said the price would dump, similar to that of litecoin (LTC) and bitcoin cash (BCH) following their recent halvings. Nearly a quarter of respondents said the price would remain stable, with another quarter claiming the price would increase.
LTC went into a halving and dumped.
BCH went into a halving and dumped.BTC is heading into a halving and is going to:
1) Dump, same kind of reasoning as LTC and BCH
2) Do nothing, cause there is actual demand
3) Pump, BTC is just different than altcoins— DonAlt (@CryptoDonAlt) May 5, 2020
A subsequent poll by TheCryptoLark removed the comparison to other altcoins, asking users simply what they expected for bitcoin after the halving. Again, 44% of the 1,500 responses indicated bitcoin’s price would fall, while only 14% held a bullish outlook.
#bitcoin halving is 8 days away, what are you expecting?
— The Crypto Lark (@TheCryptoLark) May 4, 2020
Featured Image Credit: Photo via Pixabay.com
