Historical Trends Show What To Expect For Bitcoin Price Following The Halving
The 2024 Bitcoin halving is only two days away, and there are already varying expectations of what might happen to the BTC price once the event is completed. One way to get an idea of how it could play out for the Bitcoin price, though, is through historical data and how the cryptocurrency has performed at times like these. Bitcoin Price Trends For Previous Halvings There have been three halvings so far since Bitcoin was first launched in 2009 and with each one, Bitcoin has demonstrated various reactions to the event. The first halving took place on November 28, 2012, the second happened....
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It’s been quite a bearish week for Bitcoin, as the crypto has fallen around 3% since the beginning of the week. Price action, in particular, has had Bitcoin struggling to break above $27,000, indicating a potential risk of more losses below this resistance level in the near term. However, according to a crypto analyst, this current retracement might be the beginning of a historical Bitcoin cycle before each halving. Analyst Shows Bitcoin Price Correction Based On Historical Trends Crypto analyst Rekt Capital has said in a post that if historical Bitcoin “halving cycles”....
October has traditionally been a pivotal moment for Bitcoin’s price action. Historical data shows an enticing average price increase of 17% for the month (excluding the early, volatile years of Bitcoin). In pre-halving years, this average price fluctuation is slightly higher, around 21%. If the same price change occurs in 2023, Bitcoin could reach somewhere between $32,000 and $33,000 in October. But will this month follow the historical trend, or is a bearish turn still possible? Related Reading: Bitcoin Price To Reach $170,000 in 2025 – Mathematical Model Predicts October Over Time....
The bitcoin price has increased nearly 50% since January 1. While the year has been tumultuous economically for the world, an upcoming network event called a Bitcoin halving could have had price implications and led to the big gains for Bitcoin price. Though, based on the only historical halving, which took place in 2012, the unsurprising nature of the halving event could limit price volatility. At least for now. What is the Bitcoin halving? Using computers to contribute transaction data to the bitcoin blockchain, miners must provide a proof of work to receive a Bitcoin block reward for....
As the Bitcoin community celebrates the 2nd successful quadrennial block reward halving, market participants seems less enthusiastic about the event. Economics will trump speculation eventually, but directionless volatility might be here to stay for a bit. The Bitcoin halving is a seminal and historical event that carries significant meaning for almost everyone involved. It is yet another example of Bitcoin’s monetary predictability, and perfectly juxtaposes the legacy system which has never been good at following through on promises. We now enter a new era of Bitcoin, one in which the....
Many believe Bitcoin will bounce back to break the $60,000 price mark. But Mark Yusko seems to have a bigger picture of the token’s future price. Mark Yusko is the CEO, founder, and chief investment officer of Morgan Creek Capital. In his speech, the price of Bitcoin could get to $250,000 in the next five years. One reason for this possibility is that Bitcoin has gone past being a valued token. Unfortunately, many investors fail to see it from this perspective. He revealed this information in an interview held in June 2021. Related Reading: Bitcoin Supply In Profit Continues Decline, But....