Based on historical Patterns bitcoin price could go through a tight price range, just before the block reward halved. As we all know, remains the BTC, while, unpredictably, the analysis of the past, however, shows a certain Trend.
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Convergence to the S/W pattern by Halving Event?
Based on a convergence analysis of the S/F pattern will move the Bitcoin price to may 2020, most likely in a price window between $14,000 and $20,000 of them. The quantity analysis in accordance with Plan ” B ” was used, the BTC-price to display pattern, which resulted in a long-term convergence of a certain range. The convergence is said due to the increasing BTC scarcity before.
Currently less than 3 million BTC to the mines are left and in a few months, the daily Bitcoin will be production of only 900 Coins. The current block time halving the 15 should. May-happen – in other words, around 186 days.
In addition to the wild Bitcoin price in the past also periods of relative stability and slower growth had recoveries BTC. If you look at the periods between the Halving Events, the Bitcoin has experienced price and lower highs but also higher lows, and thus the conditions for a price created, which lies between certain limits.
Bitcoin price could be back in bearish territory
BTC recently fell in the area around 8.800 $, after he had moved back in the direction of $ 10,000. These short-term fluctuations can be due to a larger Trend subdued. The convergence is based on a Marker for the Stock-to-Flow ratio (S/F). The representatives of the theory assume that the historical pattern is not yet complete, so that convergence can take place.
Bitcoins recent downward trend suggests that prices will return to a declining trend and this could change the pattern. At this point, it is uncertain in what direction BTC is going, and how the third effect of halving. So far, the expectations of the halving, the Bitcoin price recovery in 2019, only amplified.
However, a Bitcoin price of between 14,000 and 20,000 dollars in a few months seems extremely optimistic. Despite the failure of the Halloween rally to 16,000 $, Bitcoin is still able to surprise us with 1,000-$-days, and to very quickly reach all-time highs.
At this point, the S/F model is only a pattern, where the Bitcoin price is approaching. These data were collected in very different Trading periods, wherein the pattern is based on a fluctuating number of markets and sources of Liquidity.