We are now roughly 10 months from Bitcoin's next halvingsteemCreated with Sketch.

in bitcoin •  2 months ago 

It seems like just yesterday we were more than 12 months away from Bitcoin's next halving...

Time flies when you are having fun right?!

Well, it has been quite fun over the last several months as bitcoin has enjoyed a very nice resurgence.

Some of which likely has to do with its next halving being right around the corner.

Which is scheduled to take place in 315 days, 17 hours, and 8 minutes for those that are counting.

(Source: https://www.coingecko.com/en/explain/bitcoin_halving)

Why does this matter?

During the halving, the block rewards for bitcoin miners will drop from 12.5 to 6.25 bitcoin per block.

Which means there will be a reduction of new supply coming into the markets.

Historically, though admittedly when I say "historically" I am only talking about two other times (because it has only happened two other times), bitcoin has tended to perform very well both a year prior and year post its halving event.

With its halving scheduled to take place roughly in May of 2020, we are now firmly within that 12 month pre halving window.

We are in the aqua to light blue zone:

(Source: https://twitter.com/100trillionUSD/status/1145586484214403072)

As you can see the price gains tend to get the most parabolic during the red and orange periods.

"Historical" (two other times) pattern predicts even more gains?

This pattern is one of the main reasons people don't think bitcoin will peak during this cycle until early 2021, which is roughly one year after its halving event.

That is when it has peaked historically (the two other times).

Every day that goes by gets us one day closer to the halving and likely one day closer to bitcoin going on a euphoric parabolic run again.

Stay informed my friends.

-Doc

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Halving = double the price 👍🧐👍

That is one way to look at it. Historically, halving = 5x-6x the price!

1508.2 .313 .949

1223.5 .313 .945

606.1 .307 .911

263.2 .281 .925

3859.5 .270 .890

320.7 .239 .878

Hopefully Litecoin will remind everyone about the implications of a lower inflation rate soon enough!

Posted using Partiko iOS

I am counting on it...

Did you buy some?