The BTC network hashrate has been increasing rapidly the fast few days, pushing up the estimated Halving Date

The bitcoin halving has been talked about for much of the last several months, and for good reason...

It's likely the main driver between the boom and bust cycles that bitcoin has experienced roughly every 4 years.

The next halving event was previously expected to be on or around May 13th.

However, with the recent uptick in the network hashrate, that date is likely going to be pushed up by a couple days...

(Source: https://twitter.com/100trillionUSD/status/1248960683808641024)

The current estimate points to the next block reward halving on bitcoin happening on May 11th.

Which, as of today, means that the next block reward halving is exactly 1 month from today!

Why is this happening?

This is likely due to the recent block reward halvings in both BCH and BSV within the past week.

Many of the miners use the same equipment for each network, and with the huge decrease in profitably seen after the recent halvings in BCH and BSV, miners have simply switched over to mining the one that's the most profitable.

And at this point in time, that is the main BTC network.

Things will level out in time as the difficulty on those other networks adjusts dramatically downwards.

It will be interesting to see the effect on the main bitcoin network when the halving happens exactly one month from now.

I think it will be extremely bullish several months post halving, but it may be bearish for the price initially, similar to what we are seeing with BCH and BSV, though they do have much smaller networks...

Stay informed my friends.

-Doc