Almost 6 Months to Bitcoin Halvening - Here's What Usually Happens Next
We're (almost) 6 months from the next Bitcoin halvening which is expected to take place around May 2020.
With the help of a tweet from Plan B, I thought it would be worth taking a look at the historic price action in the 6 months leading up to the Bitcoin halvenings of the past.
This might give us some kind of idea of what to expect in the run up to this historic event.
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▶️ 3Speak
Currently, I believe the mining costs for Bitcoin are about $3,100. So on the halving, the costs will be just above $6,200 and will become its base price. That said, I think the run up to the halving will increase the price of Bitcoin, but not initiate the start of a new bull run - famous last words.
All FIAT currencies are being debased and it's a race to the bottom. Bitcoin and a few other ALT coins are probably the future, in my opinion.
Thanks for your post, it was very thought provoking.
You got a 2.46% upvote from @minnowvotes courtesy of @agrostis!
Honestly. I'm so excited about the halvening. According to the data at hand, we could see the amount of wallets with above 1000BTC has increased. Rich people are stacking already. I believe this would affect the price before halvening. Perhaps X2.8 the price. Above $18,400.
My opinion💗.
Thanks for the video Louis. Have a wonderful day.
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Thanks Abdex9, you too!
You're welcome bro
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I think it’s perfectly reasonable to expect them kind of figures from the halfing , it’s been there before without it . Cheers mike
Bitcoin events have always been so spectacular, I can imagine a rise but really can't say if it's gonna be ×2 or ×3 it's current price. But there's definitely gonna be a high rise. Let's keep our fingers crossed hope for the best. Thanks for this.
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We are ready to gain in some strong movements i'm sure we will surpass 20K. Regards
Hopefully :)
@louisthomas, At this moment Price Action and Price Movements still holding the dynamic patterns and Bull Run signs are not visible yet. But we can expect some surprises. Stay blessed.
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Bitcoin price will explode 6-12 months after the halvening... 2021 is going to be the next "Big" Bullrun for crypto :)
It is hard to guess what will happen, but I want to believe that this will not happen again.
We are already heading towards the Cinema hall to watch the horror movie "Bitcoin Halving 2020". Why you need to narrate the movie and make it more scary. I don't hold any bitcoin, and even if I had wouldn't make any difference, either way no-one can cash it out in bulk amount.
The prolonged effects of a #Bitcoin halvening are greater than its immediate effect.
Things get somewhat priced in 6-12 months beforehand, but about a year afterwards when a little FOMO sets in, the reality of scarcer supply causes prices to really skyrocket. #Crypto #BullishAF