1 of 1- Cryptoraga
- moneyfx advance
Offline - Registered: 10/27/2020
- Posts: 63
Bitcoin halving effects on Bitcoin price
As we have seen in the past 12 years and 3 times of bitcoin halving history, that bitcoin price got affected by the bitcoin halving. The Bitcoin halving event occurs after 210,00 blocks are mined. It has been programmed to happen every 4 years. After the halving, the bitcoin mining rewards are split into half and the miner will get 50% less bitcoin as a mining reward in comparison to the reward before the halving event. That was about the mining rewards for miners, now let’s see what happened to bitcoin price before and after the Bitcoin halving event in the past.
During the first Bitcoin halving event in 2012, the price of bitcoin was increased by over 200x. In the second bitcoin halving event happened in 2106, the daily trading volume of bitcoin was increased by 50% a couple of months prior to the halving event. In the third halving event in may 2020, the trading volume of bitcoin was increased by 150%. After the third halving, the price of bitcoin has increased exponentially. Now the price of bitcoin is $18,192 at the time of this writing. The next bitcoin halving will occur in 2024. The Bitcoin halving data indicates that bitcoin rallied sharply following the previous three halving's. Many investors are optimistic that the coming bitcoin halving will have the same effect.
- tarofe
- moneyfx advance
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- Registered: 7/09/2020
- Posts: 35
Re: Bitcoin halving effects on Bitcoin price
Exactly 3 years have passed since Bitcoin set its previous all-time high just below $ 20K. Most of the market participants who have caught those times now have a pleasant but alarming déjà vu, because it was from that moment that the fall of bitcoin began, which subsequently led to the "crypto winter". There are also differences: in 2017, the emergence of institutional investors on the market led to a sharp sell-off, as they had the opportunity to open short positions. Now it is big capital that has created conditions for a rally in the market. In addition, the rally itself started from much higher levels, doubling the price since September, while three years earlier, the price rose 5.5 times over the same interval.
- fiboco
- moneyfx advance
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- Registered: 7/07/2020
- Posts: 72