U.Today Franchise
F2Pool
0
📰 News
2174 views

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

Put your
crypto to
work
  • 0.00

    Interest per week

  • 0.00

    Interest per year

  • 0.0

    Interest rate

Join Now!
Sponsored by Celsius.Network
  • Yuri Molchan
    📰 News

    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

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

Contents

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.

👉MUST READ

'Bitcoin Jesus' Roger Ver Supports Arrested Ethereum Dev, Calvin Ayre Accuses Him of Treason

'Bitcoin Jesus' Roger Ver Supports Arrested Ethereum Dev, Calvin Ayre Accuses Him of Treason

$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.

Subscribe to the official U.Today Telegram channel. Get news first!

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.

Recommended articles
CLOUD MININGPromoted
0
📰 News
447 views

Bitcoin Price Likely to Surge to $8,200 Before Surprising Bulls: Crypto Analyst

Put your
crypto to
work
  • 0.00

    Interest per week

  • 0.00

    Interest per year

  • 0.0

    Interest rate

Join Now!
Sponsored by Celsius.Network
  • Yuri Molchan
    📰 News

    A crypto analyst says that Bitcoin follows ‘standard crypto games’ and expects BTC price to surge to $8,200 before making a market reverse

Bitcoin Price Likely to Surge to $8,200 Before Surprising Bulls: Crypto Analyst
Cover image via 123rf.com

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.

Contents

After Bitcoin bulls reclaimed the $7,400 level earlier, the flagship currency is holding in the $7,500 area. A crypto analyst says that these are ‘standard crypto games’ – Bitcoin is likely to surge into the $8,000 area before plunging again.

Bulls, get ready to rock - $8,200 on the horizon

At press-time, Bitcoin is swapping hands at $7,544. For a long while prior to that the price was trading flat in the $7,200-$7,300 area.

However, on Friday, the Bitcoin price managed to recover to the $7,500 level.

BTC price CMC
Image via CoinMarketCap

The analyst @CryptoMichNL reckons that Bitcoin is following a standard pattern of the volatile crypto market and is going to please the bulls before giving them a nasty surprise of a bearish reversal.

‘Bitcoin halving is the main catalyst’

The next Bitcoin halving programmed by Satoshi Nakamoto, the Great and Terrible, is to happen in May 2020. Many in the community believe it to accelerate the Bitcoin price surge since miners have not priced it in.

👉MUST READ

Tim Draper Says His $250,000 Bitcoin Price Prediction Is Not Based on Halvening

Tim Draper Says His $250,000 Bitcoin Price Prediction Is Not Based on Halvening

Doubts about the BTC halving impact

However, a co-founder of the Morgan Creek Digital Jason Williams, the less Twitter-active than his colleague Anthony Pompliano, reckons that the Bitcoin price is likely to dip after the halving. The thing is that miners are going to get twice as fewer BTC for each new block than now and many of them are going to have to sell their BTC to pay the bills.

Besides, chances are high that small mining pools will quit since mining will stop giving them enough profit.

The fastest way to get crypto news is to follow our Twitter. You won’t miss a thing! Subscribe.

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.

Recommended articles
CLOUD MININGPromoted