BCH and BSV are both surging big time with their halvings 1 month before Bitcoin's
Everyone has been wondering what bitcoin is going to do around it's halving.
We have 2 past halvings to look at for guidance but beyond that we can't really say for sure.
However, we have 2 other somewhat related coins that are roughly a month further along into their halving cycles...
Perhaps we can look to them for some clues?
(Source: https://www.tradingview.com/x/8yOFb4KT/)
BSV has gained 270% while BCH has gained 140% so far this year
Compare that with bitcoin's 40% gain so far this year.
Besides their many differences, both of those coins have their halving roughly 1 month prior to bitcoin's.
Are they potentially a road map of what is to come for bitcoin?
Maybe, maybe not.
BSV in particular was going up for more than just its halving event.
There has been a lot of drama surrounding Craig Wright that has been pushing prices around, mostly in the bullish direction.
However, as it eventually is revealed beyond a shadow of a doubt that he is a fraud, it will likely come crashing down.
Currently there is only a 99.9% chance he is a fraud.
BCH is a slightly different animal...
It's gains are likely more halving-related than BSV's.
Given that context, and the fact that it is up currently 140% this year, bitcoin may have quite a bit to run still over the coming months considering it is "only" up 40% so far this year.
(Source: https://www.tradingview.com/x/xz2se4AV/)
I do still fully expect a pre havlng dip, and then also a post halving dip in bitcoin and probably the rest of the market as well, but that doesn't mean we won't also have a major run-up still before the halving, regardless of any dip.
Overall, I don't think bitcoin will follow BSV and BCH exactly, but I do think their out-performance is good news for bitcoin as it gets closer and closer to its halving.
For more about what I think will happen specifically with bitcoin surrounding its halving, see here:
https://steemit.com/bitcoin/@jrcornel/btc-the-halving-now-roughly-100-days-away-here-s-your-playbook
Overall, everything appears to setup for bitcoin's massive out-performance around its halving to continue again for a 3rd straight time.
Stay informed my friends.
-Doc
I really do share your sentiments. The forthcoming BTC halving will most likely have great impact on prices. Cheers!
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Both pre and post halving. The post halving rally is what traditionally has been the really big one that takes prices to new highs. That is the one that hopefully takes steem and the altcoins on a massive run as well.
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This was an inspirational read! BOI, we hope crypto and especially steem will rise!
Not only will it improve many lives, it will also help decentralization spread.
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Thanks for this post.
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I like your opinion about this @jrcornel
So steem would really get some good gains this year? Maybe over a dollar per steem?
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