Upcoming Bitcoin Halving amid Coronavirus Lockdowns around the

globe - What can we expect?

Table of Contents
Introduction…………………………………………………………………………………………………… 1
Introduction
As an aware and well informed reader everyone knows about the current
Coronavirus situation going on in the world. Covid-19 started to show its effects
on China in December 2019 and slowly it is spreading over the entire world. The
World health Organization (WHO) has declared Covid-19 as a pandemic which is
going to affect the entire world.
The coronavirus may also play a vital role in setting, controlling and changing the
prices of Bitcoin. The global pandemic which originated from China has spread
throughout the world. This virus has impacted the technology sector adversely.
The mining farms which help in solving blockchain related stuff through large
number of computers working 24*7, stored in the warehouses might face supply
shortages.
Governments of all countries have ordered lockdown for a certain time period
which also may get extended due to the ongoing fear of coronavirus across the
world. This has been done in order to break the chain of spread of coronavirus in
order to protect the citizens of a country. This might lead to delayed orders and
congested ports which means that the miners might not get access to hardware
that is required by them in order to keep on verifying transactions. This will also
interrupt the production of Bitcoin. The Bitcoin scarcity in the market due to
coronavirus might lead to a price rise of Bitcoin across the world.
The next Bitcoin halving is supposed to take place in May 2020. Coronavirus is
surely going to impact this halving because of the supply chain scarcity amid the
lockdowns imposed across various countries. The prices of Bitcoin are expected to
face a hike because of the shortages in the market. Bitcoins are highly speculative
in nature, so it is very difficult to ascertain as to what will happen after the Bitcoin
halving in May 2020.As the Covid-19 pandemic continues to affect the investors of
Bitcoin, they will treat Bitcoin as any other currency in order to liquidate their
funds for fulfilling their day-to-day requirements.
Just like Bitcoin, coronavirus is very uncertain and nobody has any idea what it
will do next time. China is one of the most famous countries in the industry, but
as the environmental concerns go around the corner, it is very difficult to
speculate about the market conditions.
What is Bitcoin halving?
Bitcoins supply is finite. Once 21 million coins have been generated and circulated
in the market, the network stops producing more BTC. Bitcoin is often referred to
as “digital gold” as the resources available are limited, and they will get depleted
someday in the future.
Every 210,000 blocks, Bitcoin halving takes place and the production of new
Bitcoins becomes more difficult.

What is a block reward?

In order to understand this concept, let’s first go back onto the basics of Bitcoin-
the blockchain.