With one year left to the long awaited Bitcoin [BTC] halving scheduled for May 2020, the bulls are right on track. Based on historical price movements, the price of the top crypt curve increases 3 months to a year before halving; The current market conditions are a testament to this effect.
The Bitcoin mining rewards are set to fall by 50 percent from 12.5 BTC per block at press time to 6.25 BTC per block. block on the said date, which results in a scarcity of the coin, which leads to a rise in prices. Earlier half, the first in 2012 and the second in 2016, have seen an earlier rise in prices, with the third halving expected to start the same.
According to a BTC pricing chart, added from the Mining Reward Reduction Perspective via Reddit of user lemon mule, the current market is in a "Reacumulation" phase, which will continue to flow until May 2020. Give rise to the "Bull Market", where Bitcoin will surge from around $ 1
Despite the fact that prospects are fairly streamlined in the bullish sense, the previous predictions paint a narrative narrative of a steady change in the BTC award leading up to the periodic event. The four-cycle cycle consists of a bear market after the beef market, resulting in a " accumulation period " period, then a short stint of " Expansion ", after which a " Reacumulation ] "period as it can be seen in today's market.
The last two halves have seen this cycle again. In November 2012, when the 210 001 block was produced, the rewards died from 50 BTC per block to 25 BTC. Almost a year and a half before the same, the price of Bitcoin peaked at around $ 30, so the following three periods endured, at the time of halving, the coin was priced just below its peak.
Similar patterns were seen with 2016 halving. In December 2013, the price of the coin broke through the $ 1000 ceiling for the first time, the top of the formerly halving beef market. After this peak, the coin began to sink to early 2015 and then shot back up towards the beginning of 2015, catalyzed by the expansion period.
After a stagnation in 2015, the next two years bullish activity, with the famous $ 19,500 increase in December 2017 peaked at the third-thirds halving cycle, the bear market, or more popularly known as "crypto winter, the centerpiece of 2018, shaving the price just over $ 3,000 last December, triggering the start of the accumulation period. The increase in April and May marked the start of the steep "Expansion" period followed by the Reacumulation phase, which according to the chart will continue to halving.
The BTC price is set to fire at the end of 2019 until close to December 2017, before an enormous rise in prices that will continue until 2020. The price at the end of next year will be around $ 24,000, the chart indicated at $ 100. 000 the barrier to be broken by the end of 2020.
Given the recurring patterns of price fluctuations before and after the halving, and the mirror assumptions prevalent in the market today, the half-model prediction of a six-digit Bitcoin price in the next and one half a year have some truth to it.
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