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by ftufek 2421 days ago
There's a lot of other reasons why it can go down and it wouldn't necessarily go down because of halving. But when a lot of people expect something to go up, it can have reverse effects.

A lot of people have this assumption that it will always go up after a halving, it very well might, but at the current price point, the average person can't even afford a single Bitcoin whereas at previous halving (in 2016) that was still doable (it was on the order of a few hundreds of dollars). At this stage, you would need big investors and probably that's what companies like Bakkt will allow.
2 comments
Terretta 2421 days ago
BTC needs to move its decimal point.

Like Berkshire Hathaway:

Investors appear to like Berkshire Hathaway stock in the $60s and even the $70s more than they liked it at roughly $3500 a share.

Berkshire shareholders approved a 50-for-1 stock split of Berkshire's Class B shares yesterday. Trading began today.

The lower price is seen as an opening for small investors who couldn't afford the old four-figure price tag.

At yesterday's meeting, Warren Buffett told shareholders that the increased trading volume and liquidity for the Class B shares after the split could make it the key driver of Berkshire's market value. "The B may be the tail that wags the dog now."

https://www.cnbc.com/id/34973846

On the other hand:

https://www.investopedia.com/ask/answers/021615/why-doesnt-w...

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nullc 2421 days ago
When the price first went over $1000 some sites switched to using mBTC ... but then the prices went under $1000 and there were complaints about the small numbers being confusing.

You can't win.

> opening for small investors who couldn't afford the old four-figure price tag.

That's an issue that doesn't exist for Bitcoin though-- you can purchase FAR less than one bitcoin at a time.

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Terretta 2420 days ago
I didn’t remember the mBTC, that feels like a reasonable solution since it’s just psychology.

It’d probably go up, as a result, too. :-)

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vinniejames 2421 days ago
The problem is fragmentation, this would require upgrading thousands of apps in close proximity to avoid consumer confusion when decimal places switch across platforms
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Shorel 2421 days ago
The minimum BTC purchase is far smaller than an entire Bitcoin.
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