As the entire crypto world anticipates the upcoming Bitcoin halving in May, many are hopeful that the event will ensure a spike in the price of Bitcoin. While a lot of people have continued in their usual bullish stance, Coinbase has joined this team, anticipating that the halving will do great for Bitcoin.
In a recent Coinbase blog post called “Digital Gold, Scarcity, and Bitcoin Halvings”, the company says that this year’s halving will finally convince the world that Bitcoin really is Digital Gold.
Coinbase draws a parallel between Bitcoin and gold in the article. According to the exchange, Bitcoin was designed and embedded with some scarcity, just like the scarcity gold enjoys. The article, however, points out that Bitcoin might be much better than gold because it is more flexible and can easily be transacted virtually via a very secure corridor.
The exchange is also predicting that Bitcoin investors are bound to smile to the bank when the halving happens. The event will see block rewards cut by exactly 50%, to 6.25 BTC from 12.5 BTC.
There are contradicting views about whether or not the halving will be the catalyst many hope it will be. History, however, suggests that prices will surge post-halving.
Last year, one of Germany’s biggest banks, Bayern LB, predicted that Bitcoin will see $90,000 this year.