Bitcoin set for halving parabolic run if history repeats itself

28 May, 2019
Analysis
Bitcoin set for halving parabolic run if history repeats itself

Looking at BTC this year, the price has most certainly turned bullish. This comes as no surprise as we are officially one year away from the next BTC rewards halving.

Following the halving trend of BTC, it is quite possible that within the next two years, BTC could go parabolic if looking at the price history following previous halvings is anything to go by.

Bitcoin has seen two reward halvings, one in 2012 and one in 2016, with the next one set for May 2020. looking at the previous halvings, BTC was trading considerably lower one year before each BTC halving, and considerably higher one year after each halving.

Looking at the price movement of BTC one year before the halving, and one year after the halving has yielded some interesting statistics.

BTC prices one year before and after the halving

November 2011 - $2.55

November 2012 BTC Halving - $12.50

November 2013 - $1,037

July 2015 - $268

July 2016 BTC Halving  - $654

July 2017 - $2,525

May 2019 - $8,700

May 2020 BTC Halving - ?

May 2021 - ?

Looking at the figures, BTC has done no less than 240% in growth leading up to the halving, and has done no less than 380% in the one year following the halving. Should we consider those figures into the next halving, we could see BTC at $21,400 during the halving, and reaching $81,320 in the year following the halving. 

Exciting times lay ahead for the decentralized cryptocurrency and everyone will be keeping a keen eye on the upcoming halving. 

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Read more about: Bitcoin (BTC)

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