If you're wondering why your friends who are into cryptocurrency are in a tizzy, it's related to a model called "Stock-To-Flow" that attempts to post-facto explain the price of Bitcoin (and other liquid assets, like gold) in terms of the rate of production.
Proposed by PlanB [1] it is a source of constant derision/hope/skepticism/dismissal by the Bitcoin community, and the halving of the reward gives it its first non-backtested novel prediction.
Roughly it predicts [2] that the price will settle into a band around 30,000 USD sometime next year.
Proposed by PlanB [1] it is a source of constant derision/hope/skepticism/dismissal by the Bitcoin community, and the halving of the reward gives it its first non-backtested novel prediction.
Roughly it predicts [2] that the price will settle into a band around 30,000 USD sometime next year.
[1] https://twitter.com/100trillionUSD
[2] https://cointelegraph.com/news/bitcoin-halving-will-be-make-...