Bitcoin's 'Halving' is about to shake Crypto-currency markets

.Bitcoin’s “halving” Means; It will cut creation of the crypto-currency by 50 percent.

A cryptocurrency is any form of money that exists online and operates without a central bank. Bitcoin is one of several such currencies.

No one person or group is in control of this halving process. It is a rule written into bitcoin’s computer program.

The event is expected in May, 2020. It would cut by 50 percent the number of new bitcoins given to bitcoin miners. These miners create the world’s supply of crypto-currency by solving complex mathematical questions.

Bitcoin market players are predicting sharp price increases as well as sharp drops in the value of the crypto-currency. Such moves have happened in earlier halvings, which take place about every four years. The point of a halving is to keep down the number of bitcoins and control inflation.

Bitcoin’s future value is decided by technology and not, some say, by the rules of economics. The rules of economics say that if supply is cut and demand stays the same, prices rise. Since the cut in supply is expected, the price may slowly rise or fall before the cut is made.

Bitcoin miners receive a set number of bitcoin, currently 12.5. The next halving will take place in May, when the number will drop to 6.25.

The two past halvings took place in November 2012 and July 2016. In the one year periods that followed, bitcoin’s value rose close to 80 times in 2012 and four times in 2016.

Please note that, I am a fan of crypto-currency and the above mentioned article is for information purpose only for the crypto fan, who might get benefit from it

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Wirex Tokens in 13 June 2019

Wirex, a hybrid personal finance platform that merges blockchain tech and traditional finance, announced on Monday the release of the Wirex Token (WXT), its first native cryptocurrency, in an Initial Exchange Offering (IEO) on OKEx.

According to Wirex, the new token is designed to help users access unique rewards, save on fees and own their own share of Wirex. While sharing more details about the token, Pavel Matveev, Wirex CEO, stated:

“We believe that the nascent token economy will eventually replace conventional fiat currency as the dominant form of payment. The Wirex Token helps us integrate with the payment environment of the future and offer users a convenient, fast and cost-efficient way to move digital money across borders.”

Wirex is  holding an IEO (Initial Exchange Offering) for WXT on the 26th of June. A limited number of WXT tokens ($1m worth) will be released for sale through the OKEx Jumpstart programme. Previous IEOs have sold out within mere minutes; given the limited number of tokens for sale and the high demand for WXT, there’s a possibility that people could be disappointed.

Luckily, there’s no need to take that chance. To thank all verified Wirex customers exclusive early access to the Wirex token on a first-come-first-served basis. On the 13th of June 2019, a limited supply of WXT (2%) will be available to buy through Wirex at a start price of just $0.01 per token.

Giving users the best possible value.

The company added the funds raised through the IEO will enable it to accelerate its growth whilst bringing the company closer to its ultimate goal, which is to democratize access to fast, low-cost international remittance and empower retail and corporate customers to use their cryptocurrency in day-to-day life.

XRP to reach $589, Can XRP move this high

There are some crypto-currency analysts that have said that the price of XRP doesn’t have the potential to move above the $10 level even at its highest point. However, there are also those who are confident in the future of XRP irrespective of its current price. Crypto Bitlord, one of the prominent members of the crypto-currency community, predicted that the price of XRP will move as high as $589 sometime in the future. To support his argument, he said that Bit-coin was once worth $0 and is currently worth more than $5000. He also made reference to the fact that the price of BTC sold almost as high as $20000. So, in his opinion, if BTC could raise this high within less than 10 years, XRP can move from the $0.30 range to the $589 range.

XRP is no longer strongly related to the price of Bit-coin. While this is meant to be a good thing, it also makes the XRP price prediction 2019 difficult. You see if the price of XRP is no longer closely related to the price of Bit-coin, a surge in the price of XRP will not automatically lead to a surge in the price of BTC. Since XRP has been stuck in a descending trend line for a long time and has refused to move above the $0.30 level, some members of the crypto-currency community have started referring to XRP as a stable coin and not a crypto-currency.