With the Bitcoin halving event just hours away, I want to once again turn your attention to the thoughts of Vinny Lingham.
Here’s his latest post on the topic, The Lake Wobegon Effect:
Here we are on the eve of only the second “Bitcoin Halving” and there is an immense amount of speculation around what will happen. When I wrote my Bitcoin 2016 post in early May, the price was $450 and I speculated that after the halving, it would hit $1,000 by the end of the year. I clearly wasn’t the only one who believed that the halving would have an impact and the price ran up to around $770 last month, but then came crashing down to mid $500’s and is now in a broad consolidation range. Given the liquidity that sits outside the traditional exchanges and lives within the Bitcoin OTC market, the price will continue to be volatile…
