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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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.
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You got a 2.46% upvote from @minnowvotes courtesy of @agrostis!
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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!
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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
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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
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Hopefully :)
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@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 :)
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It is hard to guess what will happen, but I want to believe that this will not happen again.
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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.
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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
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So we would likely see a bull around December of 2020, it seems likely, this halving is really making people with the cash stack up a whole lot of money in BTC hopefully this will be instrumental in also turning the alt around.
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I hope it goes up at least 1.5x :)
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I think the value of bitcoin will not explode in 2020. Moreover, the current price of bitcoin tends to be stable compared to other crypto coins. Bitcoin will explode a few months after falling to the lowest price.
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