Will Bitcoin Halving Restart Bitcoin Bull Market?

The first Bitcoin halving event happened on November 28, 2012, and Bitcoin broke through $1,000 in value for the first time about one year later.

The second Bitcoin halving event happened on July 6, 2016. It was around the end of the following year, 2017, that Bitcoin experienced the legendary rally above $10,000, and almost reaching $20,000, that put it on the map.

There is another pattern that we can observe in this history of halvings. The story of late 2017 and early 2018 is more widely known. Bitcoin rose to its all-time high and then fell below $10,000, only to occasionally and briefly return.

With a little bit more digging, though, it’s possible to see that the surge after the first halving was very similar. Bitcoin rose above $1,000 and then fell below it. It wouldn’t break through $1,000 again until the post-July 2016 bull run that created its all-time high.

Cryptocurrencies may have come under pressure due to the coronavirus crisis (along with pretty much every other asset on the market), but this is completely in line with the historical pattern of Bitcoin prices that have led to meteoric gains.

If history repeats itself, the rewards halving coming up in May will be another part of that pattern, and I am looking forward to seeing how the price of Bitcoin reacts in the next two years.

It’s very possible that stimulus money from around the world could flow into the crypto markets. We’ve maybe 18 days away, so lets see what price and volume do in the next 2 weeks.

Really? Vs. paying rent/bills? :open_mouth:

Depends on your situation. I imagine there is a collective that still has their jobs, AND are receiving the Trump stimulus payments. For those, if they were already speculating/hodling/trading, this is a potential small windfall.

Check this out:

" Exchanges are seeing record volumes on spot markets"

Bitcoin is currently trading above $7,500 per token. That’s the highest price it’s reached since it completed its coronavirus-driven plunge along with the rest of the market.

And it just might be ready to start going even higher than that. The price of bitcoin has gained by nearly 10% since Monday. In that same time period, the broader market has achieved no persisting gains and has in fact actually declined in price very slightly since then.

Not only is bitcoin already faring better than the traditional market across this past week, but the mining rewards halving that will take place in less than a month could be a sign of a new all-time high, just as it has been in the past.

And that rally wouldn’t necessarily be confined to bitcoin alone either. In the past, small alternative cryptocurrencies, or microcurrencies, have shown outstanding performance, multiplying investments ten times over in only days.

Makes sense. Just not sure there would be a whole lot of them. But I hope that IS the case.

Now at $7700 so I hope that is the case!

The bitcoin halvening is getting as exciting as ever with its expected price reaching a high of $10,500 and an advantage of COVID-19 in this surge. The end of halvening may not bring about a bullish market for Bitcoin but definitely for the crypto currency market as a whole.
Especially, Bitcoin-like digital currency DCEP of China is something to look out for.
Who knows, China may give another global sensation after corona!