{"id":423493,"date":"2020-05-11T23:00:47","date_gmt":"2020-05-11T23:00:47","guid":{"rendered":"https:\/\/wncen.com\/?p=423493"},"modified":"2024-06-11T13:48:31","modified_gmt":"2024-06-11T13:48:31","slug":"bitcoin-exits-third-ever-halving-event-with-incredibly-strong-fundamentals","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-exits-third-ever-halving-event-with-incredibly-strong-fundamentals\/","title":{"rendered":"Bitcoin Exits Third Ever Halving Event with Incredibly Strong Fundamentals"},"content":{"rendered":"
Bitcoin has officially seen its third-ever mining rewards halving event. This event \u2013 slated to occur every four years \u2013 reduces the block rewards by 50% in order to that the asset is deflationary.<\/p>\n
The short-term bullishness of this event is widely debated<\/a>.<\/p>\n Some analysts believe that the lower profitability seen amongst miners will lead them to stop selling their newly minted BTC until the crypto\u2019s price climbs higher.<\/p>\n This would alleviate a significant amount of selling pressure that the crypto constantly faces.<\/p>\n Fundamental data shows that BTC is now exiting the event in a great position, and this data is making a compelling case for the crypto to see some immense bullishness in the weeks, months, and even years ahead.<\/p>\n It has been four years since the benchmark cryptocurrency\u2019s<\/a> last halving event, and the growth it has seen in the time following has been quite significant.<\/p>\n This is clearly elucidated while looking towards Bitcoin\u2019s network growth, which just recently passed a major milestone when the 30 millionth wallet address was issued.<\/p>\n Rafael Schultze-Kraft \u2013 the co-founder of blockchain research platform Glassnode \u2013 spoke about the crypto\u2019s fundamental strength in a recent tweet thread<\/a>, explaining that the number of BTC wallet addresses has increased by 234% since the 2016 mining rewards halving.<\/p>\n \u201cThe number of Bitcoin addresses is steadily increasing and currently at ATH. It recently crossed the milestone of 30 million addresses. That’s an increase of +234% since the last halving four years ago,\u201d he noted while referencing data from Glassnode.<\/p><\/blockquote>\nBitcoin Sees Tremendous Network Growth in Time Since Last Halving<\/strong><\/h2>\n