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Brian Kelly, a CNBC expert on BTC, who frequently elucidates Bitcoin data, describes how the Bitcoin halving will work and why he anticipates a noteworthy price surge after the event.
Kelly was live in the CNBC studio on Friday. He mentioned that after the halving event on 12th May, BTC is going to be rarer than gold on the basis of stock-to-flow ratio.
In the aforementioned video, Kelly enlightens in detail how the halving event works and what it signifies for the circulating supply of BTC. As per him, the number of Bitcoins that miners are creating, will be reduced in half.
Kelly further mentioned that on the basis of the stock-to-flow model, BTC is going to be scarcer than gold. He added that the price of BTC will likely surge upwards. He said that in the present scenario when the entire world is doing ‘Quantitative Easing’, BTC is going to do a ‘Quantitative Hardening’.
It is to be noted that Bitcoin price witnessed a significant upsurge after the previous halvings back in 2012 and 2016. Notably, 3rd Bitcoin halving is only a few days away with Bitcoin trading at $8902, at the time of reporting.
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