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Bitcoin Halving Complete: Wall Street billionaire still eyes $20,000 BTC price

The Bitcoin blockchain has experienced its third block reward halving on May 11, 2020, at approximately 3:21 p.m EST, even though quite a few countdown clocks estimated that the halving would occur on May 12. Bitcoin miners now get 6.25 BTC per block rather than the 12.5 BTC they acquired before the halving.

The third Bitcoin halving cutting the new supply of Bitcoin in half at block 630,000. But inside the penultimate block, 629,999, was a secret message, an homage to the origin of Bitcoin.

NYTimes 09/Apr/2020 With $2.3T Injection, Fed’s Plan Far Exceeds 2008 Rescue,” the block reads. This text was written in the coinbase transaction, where the miner sends themselves the reward.

As Bitcoin diehards know, this isn’t the first time that a political statement has been put inside a Bitcoin block. The first-ever Bitcoin block, known as the Genesis block, also contained a message.

This was, “The Times 03/Jan/2009 Chancellor on brink of second bailout for banks.”

Satoshi Nakamoto, the pseudonymous inventor of Bitcoin, included this message from a Times newspaper article on the day the block was produced. It both timestamped the beginning or Bitcoin and the start of an era.

Wall Street billionaire still eyes $20,000 BTC price

Speaking to CNBC’s “Fast Money” panel in the wake of the halving, Galaxy Digital chief executive officer Mike Novogratz held his bullish tone on the leading cryptocurrency.

He asserted that with all of the stimulus by governments, along with the record amount of liquidity operations by central banks, Bitcoin could climb towards $20,000 by the end of the year.

Along with the positive macro outlook, Novogratz noted that Paul Tudor Jones, the legendary macro hedge fund investor, entering the Bitcoin space is especially notable.

This point was not expanded on, but many in the space believe that the investor’s entrance of the space is one of the most bullish things to happen to the cryptocurrency. The idea goes that because Jones is now in Bitcoin (and in the space publicly), other investors that were sitting on the fence are more likely to flock to buy Bitcoin now.

Has BTC Already Seen Its Post-Halving Dip? 

Because Bitcoin recently saw a notable decline when it dipped from highs of $10,000 to lows of $8,100, it is possible that the crypto has already seen the “sell the news” dip.

This possibility was mused by popular crypto analyst Luke Martin, who explained that he believes the post-halving dip has already taken place.

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