The Bitcoin halving remains one of the main sources for price speculation by 2020. Alistair Milne, CIO of Altana Digital, says that we are likely to see five more events before the big day comes.
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Bitcoin accumulation months before the halving
The Bitcoin halving event is less than 150 days, and although it has not yet led to a bull run, it can come in the run-up to a series of additional, short-term price events. By the end of 2019, there may be chaotic Trends but closer to the halving will come, it can come to new behaviour, which may indicate that the User is preparing for a rally.
The prominent Bitcoin Analyst, and Fund-CIO Alistair Milne about believe that this behavior will spread in the coming 4-5 months.
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There is no consensus for Bitcoin-price phases, and signs of an actual BTC-accumulation show. Wallets hold on to tend to your Coins, and the flows from and to the exchanges slowed down.
There is no consensus about how the next half of the impact on Bitcoin. So far, the effect of a price boom, after the halving is only realize in retrospect. This time the reward is reduced in relation to BTC, however, significantly – and it is the first halving, according to the astronomical growth of the Mining sector.
Third halving time with Mining records
The halving in 2016, also came at a time when ASIC farms grew. However, in the last two years have developed the farms to industry giants. For perspective: The Bitcoin network consumes annually as much electricity as the economy of Austria.
The Bitcoin halving is in addition to relatively high prices. Difficult to predict whether the event to the 15. May will lead to a price recovery. Some analysts believe that the increase of 13,800 $ is due in June, that the message about the halving has already been absorbed by the market.
But also the behaviour of traders is important, as well as the General BTC-mood. At the Moment, the mood is getting worse, “extreme fear” is that after the Bitcoin price under 7,000 $ has fallen.
The Bitcoin halving is performed only when two other networks lower their block rewards Bitcoin Cash (BCH) and Bitcoin SV (BSV). Their price behavior can also be for BTC exemplary. In the case of smaller Coins was often advised not to keep the stocks by halving therethrough, since the rallies in the rule prior to the Event.
In Bitcoins case, it is one of the Compounds that Miner set at a lower reward without the higher price in the operation. Currently, the Break is-even when Mining with low electricity costs at 3500 $, in regions with more expensive electricity, there are also times $ 7,000 and more per BTC.