By Matt McCallMay 11, 2020
It’s here… as of about two hours ago.
We talked about it in the very first MoneyWire of 2020, but the rest of the financial world finally paid a little bit of attention to it today.
A lot of websites and cryptocurrency enthusiasts were in party and countdown mode all day.
Cointelegraph.com held a seven-hour watch party livestreamed on YouTube.
Bitcoin Magazine hosted a 21-hour live stream that started at midnight. I can talk for a long time when I’m passionate about something, but 21 hours is crazy.
Thehalvening.com counted down both the number of bitcoin blocks and estimated time until the halvening (also called the “halving”) occurred, and then the party began. I like the image of a rocket ship.
It happened at 3:25 p.m. ET this afternoon. It was a defining moment for bitcoin and altcoins… and for smart investors who understand the significance of this major catalyst.
We’ve talked about the halvening quite a bit recently, and I explained it in detail in my 2020 Crypto Millionaire Summit: Last Call. (You can watch it here now while it’s still available.) But let me refresh your memory so you can be among those who understand how big this is.
It works like this: Bitcoins are created by “miners” who try to solve complex computer puzzles and are rewarded for doing so with bitcoins. Up until a couple of hours ago, a miner received 12.5 bitcoins for mining one block. At current prices, that was a pretty sweet $106,000.
With today’s halvening, the market now receives half the daily supply of new bitcoins than it did for the last four years – just 6.25 bitcoins.
Bitcoin’s halvening is written into its code. Nobody can change it. After 210,000 blocks are mined, the reward gets sliced in half. So far, it has worked out to about once every four years.
This is a big deal because it limits the supply of bitcoin. A lot of people don’t know that bitcoin has a predetermined total supply also written into its code. Only 21 million bitcoins will ever be created. End of story.
More than 18 million bitcoins have already been mined. That leaves less than three million left… and those coins are going to come onto the market a lot slower now following the halvening.
As Forbes has said, this creates a “supply shock” that will ignite the cryptocurrency market.
It’s basic economics. If supply is cut sharply while demand for something remains constant – or is even rising in this case – prices will soar!
In the months that followed the first halvening in November 2012, bitcoin’s price rose 2,135%. And the second halvening in 2016 saw bitcoin shoot up 3,122% in 18 months…
I like bitcoin. I own some bitcoin. And I expect it to again power its way to much higher prices in the coming months.
But I’m more excited about something you’re not hearing about as much today.
Everybody is talking about bitcoin, which is understandable, but there is an even bigger opportunity in altcoins – which are basically any cryptocurrency besides bitcoin.
As eye-popping as bitcoin’s gains are, certain altcoins performed exponentially better than bitcoin after the first two halvenings. It doesn’t seem possible, but it’s true.
After the first halvening, those who bought Primecoin, a lesser-known cryptocurrency, saw their investment soar 3,708% from July to November 2013.
After the second halvening, check out what happened to an altcoin called Verge. The crypto with a focus on online privacy shot up an unbelievable 1,362,400%!
In a 12-month span, that growth rate would have turned $5,000 into a staggering $68 million.
With that kind of money, you and your children and your children’s children would be set for life. You’d never have to work another day.
This third halvening is positioned to be the biggest ever.
In 2017, the media was filled with stories of people who invested small sums in the cryptocurrency market… yet made enough money that they never had to work again!
This one is getting even more attention.
A company called LunarCRUSH tracks the impact of social media on cryptocurrencies. The mentions of bitcoin’s halvening have gone through the roof these last few weeks.
Today’s halvening marks the official beginning of an extraordinary opportunity. The starter’s pistol has been fired, but this is not a sprint. Prices didn’t shoot up the moment the halvening happened. Instead, I expect to see them continue to rise over the next 12 to 18 months at least – and possibly longer if cryptocurrencies become as mainstream as I expect them to.
As luck would have it, bitcoin and other altcoins pulled back the last couple of days, which is a smart investor’s dream. It’s an opportunity to set yourself up for potentially life-changing profits.
The key is acting now.
P.S. Altcoins represent one of the greatest investment opportunities of your life, but you absolutely need to know which ones to buy.
I won’t sugarcoat it. There are plenty of dangers awaiting uninformed altcoin investors.
That’s why my research team and I created the “MAG System.” Our proprietary system analyzes 10 critical attributes of every altcoin (similar to the fundamentals of a stock), scores them on each, and then produces an overall ranking.
In fact, my system uncovered five new top-ranked altcoins just before the halvening, and they are still buyable at attractive prices. Click here to learn about the MAG System, the incredible opportunity in this market, and how you can learn the name of our top recommended coins.
Click here to listen to Matt McCall’s MoneyLine podcast! This week, Matt talks about the latest jobs numbers and when they mean for investors. There are small glimmers of hope in the market, including the Nasdaq, which is up this year despite the current environment. And cryptocurrencies are an asset class you should be paying very close attention to right now. Things may look grim, but Matt is here to fill you in on all the investment opportunities that can help protect you and your family.
You can subscribe to this podcast on iTunes, Stitcher, Spotify, or wherever you listen to podcasts.
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