Bitcoin Halvings Kick BTC Price Up, History Says, $100,000 May Be Expected This Time

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Sat, 11/30/2019 - 11:27
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    Historical data shows that after each Bitcoin halving the BTC price went up substantially, and this time it may be expected to hit $100,000

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.

In May next year, the third BTC halvening is to take place with miners’ rewards for each new block to be reduced in half. This means that twice as fewer Bitcoins will be issued, making Bitcoin a more scarce digital asset than previously.

This was added to the Bitcoin algorithm by the creator (creators) to prevent any inflation regarding BTC. In a recent interview to U.Today, the crypto promoter and US presidential candidate John McAfee called Bitcoin the first deflationary coin, since 7 mln BTC have been lost forever.

All eyes on 2020 - $100,000 after the halving?

A crypto enthusiast ‘Crypto Einstein’ (@BitcoinEinstein) with nearly 40,000 followers on Twitter has posted a chart, showing the rise of the Bitcoin price after each halving (happening every four years).

The chart confirms that the ATM that Bitcoin hit in late December 2017 was largely sparkled by the halving that occurred a year before.

After the upcoming halving, some believe that the price of father crypto may fall since a lot of miners may give up their business and quit.

However, there are many who are positive that the BTC price will surge due to the halvening, the growth of the US debt and more QE programs to come in the future.

As per the chart above, this time, the Bitcoin price may be expected to hit an all-time high of $100,000. The chart states that the fourth and the last halving will take the Bitcoin price as high as $300,000.

Earlier, U.Today reported that, according to an analyst, BTC may surge to $14,000 prior to the halvening.

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$13,000 is the closer target

At press time, BTC is sitting at $7,752. As reported by U.Today, earlier, a crypto analyst believes the price may surge to $13,000 later on after trading in flat for a few months.

Some are also predicting a bearish reversal soon, saying that Bitcoin may drop to the $6,300 area.

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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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