F2Pool CEO: Bitcoin halving in 2020 will not impact price that much

20 Nov, 2018
by Alberto Arnaldo
News
F2Pool CEO: Bitcoin halving in 2020 will not impact price that much

In the midst of the storm, many investors are seeking for the trigger that sets a retracement towards a serious bull run. However, according to the CEO and founder of one of the largest mining pools, Bitcoin halving in 2020 will not be the event everybody is waiting for.

Despite the positive effect on price of previous halvings, F2Pool´s CEO Mao Shixing, the sixth largest bitcoin mining pool of the world, does not believes the event will have noticeable effects on the market.

In an interview with Jinse Finance, Shixing, a market veteran who started mining in 2011, pointed out the cyclical nature of the mining industry, while admitting that in the last months his company has been losing millions of dollars in the middle of the currently speeding bear market. Meanwhile F2Pool´s current strategy goes through cutting on spending to survive the bloodbath, the CEO hopes that future investment outcomes will level out over time.

Despite not giving any indications on the direction of price, Mao Shixing´s future vision includes a more decentralized mining ecosystem, where home appliances running on cloud computing and AI could disrupt the current panorama.

Just like many presidential elections, Bitcoin halving occurs every four years. In the next one in May 2020, the reward for mining new blocks will be reduced from 12.5 to 6.25 Bitcoins. Other members of the community do see potential in this event, as the halvings in 2012 and 2016 are believed to have sustained bull runs in the past.

It is also worth mentioning that the market might currently be under some sort of confussion of terms, as @Cryptomocho points out:

Read more: Washington county electricity company goes to war against crypto minersNvidia blaming crypto decline for dissapointing results: "Crypto hangover"

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