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The time for the halving of Bitcoin is approaching, and expert crypto analysts have been making lots of predictions about what the effect will be. Willy Woo, who is a prominent analyst of cryptocurrency has said that the halving of BTC will most likely lead to an increase in price.
The halving of Bitcoin isn't something that happens randomly, it is preprogrammed - meaning that there's a specific time for the halving of BTC. And this is about every 4 years time. The idea of Bitcoin halving is to control inflation, and make certain Bitcoin supply is limited to 21 million.
Willy's entire prediction shows that after the halving of Bitcoin - this will bring about a reduction in the yearly supply growth of BTC. Currently, the supply growth rate of Bitcoin is 1.7% on a yearly basis. But after the Bitcoin halving, the supply growth rate will see a decrease to 0.85%.
For the purpose of comparison, Woo compared the yearly growth rate of Bitcoin with that of gold. And presently, gold has a supply growth rate of 1.6% yearly, indicating that the yearly supply growth rate of Bitcoin will be lower than that of gold after the halving. And this reduction in supply growth rate of Bitcoin, makes Willy to predict an increase in BTC price after the halving.
Bitcoin really have a huge potential much more in price value than gold and I am really quite promising about the future of bitcoin
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