A leading crypto exchange, Kraken, has just released its latest report on the upcoming Bitcoin halving in May 2020.

According to the report, history showed a trend of bull runs happening around halving events. It was noted that, the 2 past halvings demonstrated a 2-year uptrend in BTC price, starting from 12 to 18 months prior to the halving. This was then followed by a roughly 80% peak-to-trough downtrend.

After the halving event, Bitcoin is going to witness a 50% reduction in supply. Provided the BTC price continues to trade around $9,300, the report estimated that global mining was going to lose $3.1 billion in annual revenue after the halving.

The report stated that, the May halving would reduce annual supply inflation from a rate of 3.7% to 1.8%. It also said the Bitcoin’s code prescribes a down-trending inflation rate until total supply approaches 21 million BTC in the year 2140. Adding that, 99% bitcoin’s supply will however be minted by 2032.

Meanwhile, contrary to Kraken’s report, Binance CEO, Changpeng Zhao recently said the upcoming halving should have a couple of different impacts. Historically, Zhao claims the bitcoin community have seen the halving impact positively on the coin’s price. Adding that, historic events do not necessarily predict future events so the community shouldn’t take that too literally.

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