Bitcoin's block reward halving now less than 10 months away

in #bitcoin • 5 years ago

What does that mean for prices?

Possibly quite a bit!

If we look back at the previous two halving events, we can see that prices tended to do very well during the 10 months leading up into the halving.

Prices actually tended to do very well both a year prior and a year after, but for this post, we will just look at the 10 months prior, since that is exactly where we are right now.

The countdown can be seen here:

https://www.bitcoinblockhalf.com/

Curious how bitcoin did 10 months prior to the previous halvings?

Be curious no longer!

  • 2012: 10 months before halving btc $5, at halving $12
  • 2015: 10 months before halving btc $237, at halving $657
  • 2019: 10 months before halving btc $10,000, at halving ???

In the previous two cases, bitcoin basically doubled and tripled.

If that pattern continues we would see bitcoin somewhere between $20k-$30k by May of 2020.

However, if it keeps increasing like it did during the first two halvings, it would imply a price around $40k by May of 2020.

Where do you think we will be?

I think there is a very good chance we are well over $20k by the time May of 2020 rolls around.

Stay informed my friends.

Image Source:

https://en.cryptonomist.ch/2019/05/20/bitcoin-btc-halving/

-Doc

#crypto #busy #palnet #steemleo
5 years ago in #bitcoin by
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     5 years ago  

    Nobody knows, but great time for accumulation.

    Posted using Partiko Android

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       5 years ago  

      How could halving cause a upturn in price? If there is a reason/reasons then maybe it will again (price rise). Maybe the price was going up and halving just happened to occur during the same period.

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         5 years ago  

        During the halving, the block rewards (number of bitcoins) produced is cut in half. Meaning that the inflation rate of new coins is cut in half at every halving. The current one dropping from 12.5 to 6.25 bitcoin created every block. That is significant in that miners are considered the largest sellers, and the halving event likely means they are going to have less supply to sell.

        The market has gone up both times during the last halving, and it appears to be doing the same again.

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         5 years ago  

        Hello,

        Thanks for letting me know, this is great news! I have to get my hands on some more BTC! 💰👍

        -pf

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           5 years ago  

          i think we will be in a up cycle for at least 18 months from now
          in saying that it will obviously have its ups and downs along the way
          have a good afternoon jr