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Bitcoin Halving 2020: The Run-Up Is Not Bearish at All, Crypto Analyst Says

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  • Yuri Molchan
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    With less than half a year left before the next Bitcoin halving, the community is posting positive long-term forecasts and a crypto analyst says the run-up is bullish

Bitcoin Halving 2020: The Run-Up Is Not Bearish at All, Crypto Analyst Says
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Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

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The third Bitcoin halving is due in the first half of 2020. Now, the community is making bullish guesses how the BTC price will change after it.

The crypto analyst PlanB (@100trillionUSD) says that in his view the run-up is not bearish at all, as many may believe.

Less than 6.8 million BTC have changed hands this year: Mati Greenspan

The chief analyst of the eToro investment platform, Mati Greenspan, points to the fact that out of the 19 mln BTC that have already been mined, 11.5 mln BTC have been held by its owners firmly and only slightly less than 6.8 mln have been circulating around crypto exchanges in buy/sell deals this year.

He reminds the community:

‘It's the scarcity that creates value.’

Bitcoin price: from buying two pizzas to rising to an apartment’s worth

The angel investor @CryptoWelson retrospect on the long way the price of Bitcoin has come since 2009. Back then, he writes, 10,000 BTC was the price paid for two pizzas (referring to the famous deal that is now annually celebrated as the Bitcoin Pizza Day), now with just 100 BTC one can purchase a decent apartment.

His rhetoric question ‘What will 1 BTC buy you in 10 years?’ may sound like a bullish prediction.

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PlanB analyst: BTC production cost and unforgeable scarcity will double

The crypto analyst PlanB reminds the community that the upcoming halving will raise the cost of producing each new block and will also double the scarcity of Bitcoin.

Overall, he states, the run-up to the halving is far from bearish.

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About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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Bitcoin Price Momentum Could Be Crossing into Bullish, Willy Woo Trader Explains Why

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  • Yuri Molchan
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    The trader Willy Woo says that investor momentum is turning bullish and that the market is preparing for the upcoming halvening in May

Bitcoin Price Momentum Could Be Crossing into Bullish, Willy Woo Trader Explains Why
Cover image via u.today

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

The well-known trader Willy Woo has posted some good news to the community. On his Twitter account, he has published a chart that refers to on-chain analysis and says that it shows a bullish rise of investor momentum regarding Bitcoin.

“The bottom is mostly likely in, anything lower will be just a wick in the macro view.”

The market has started preparing for the approaching Bitcoin halving that is due in May next year, he explains.

Meanwhile, on Friday, the Bitcoin price managed to regain the $7,400 level. At press-time, as per the data from CoinMarketCap, Bitcoin is sitting at $7,576.

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Bitcoin Price Predicted to

The crypto analyst @CryptoMichNL believes that Bitcoin is going to surge to the $8,000 - $8,200 area soon. However, he adds that after that BTC may well drop back to $6,800 or even to $6,500.

Standard crypto games, he calls it.

Some, however, remain in doubt, whether the halvening of 2020 will get the BTC price to rush North.

 

Only the most important posts per day. Infographics, analytics, reviews & summaries. Follow us on Facebook!

About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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