Bitcoin (BTC) has the potential to push its prices to between $250,000 and $350,000 by the end of 2021, a long-standing fractal suggests. First spotted by pseudonymous analyst Bit Harington, the bullish setup drew its inspirations from Bitcoin’s spectacular bull runs every time after halvings, which is when the miner block reward gets cut in half. Analysts perceive the halving as a bullish event, which reduced the supply of newly mined BTC. Harington reminded that Bitcoin’s prices surged by more than 600% after the first two halving events in 2012 and 2016 when measured from a so-called resistance/support (R/S) line, …
As the coronavirus pandemic continues to unfold and new signs of lockdowns beginning to be slowly lifted in Europe, all eyes in the crypto community are back on the Bitcoin (BTC) halving. The event is only 10 days away, and Bitcoin’s price seems to be acting accordingly, having surged an incredible 23% to a monthly high above $9,400 earlier this week. A widely celebrated event in the cryptocurrency industry, the halving is part of the Bitcoin monetary policy, in which every four years, the Bitcoin mining reward is cut in half. This means that on May 11, 6.25 BTC will …
On Wednesday Bitcoin (BTC) price blasted through a series of key resistance levels as traders ponied up and set their target on the $9K mark. According to data from Cointelegraph Markets and CoinMarketCap the BTC/USD pair has rallied approximately 14.5%, notching a $1,123 gain. With the block reward halving just 13 days away, bullish investors are hopeful that a push above $9,000 will lead to a pre-halving price of $10,000. Let’s take a brief look at the charts to see what Bitcoin is up to. Crypto market daily price chart. Source: Coin360 Today’s $1,123 surge allowed Bitcoin price to clear …
Google searches for “Bitcoin halving” have hit an all-time high, far exceeding the spike associated with the previous halving event by 350%. Searches for the Bitcoin (BTC) halving event have reached 100 on Google's normalized scale, indicating their highest-ever value. At the time of the last halving in 2016, this value was at 28. This means that the current level of interest is nearly 360% higher than it was four years ago. Google searches for “Bitcoin halving.” Source: Google Trends. Still a bear market The previous halving, which decreased the block reward from 25 BTC to 12.5 BTC, happened on …
Bitcoin (BTC) can deliver 100% returns to investors in 2020 and may rise significantly in the five months until May’s block reward halving, a new report claims. In its forthcoming 2020 Crypto Outlook, market research firm Fundstrat Global Advisors said it believed that the halving was not yet “priced into” the Bitcoin price. Fundstrat expects over 100% BTC gains The report is currently only available to the firm’s clients, with key findings uploaded to Twitter by co-founder Tom Lee on Jan 10. “For 2020, we see several positive convergences that enhance the use case and also the economic model for …