{"id":369277,"date":"2019-01-25T22:00:35","date_gmt":"2019-01-25T22:00:35","guid":{"rendered":"https:\/\/uniquehot.com\/?p=369277"},"modified":"2024-06-11T07:43:42","modified_gmt":"2024-06-11T07:43:42","slug":"analyst-bitcoin-halving-anticipation-could-lead-to-btc-price-surge","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/analyst-bitcoin-halving-anticipation-could-lead-to-btc-price-surge\/","title":{"rendered":"Analyst: Bitcoin Halving Anticipation Could Lead to BTC Price Surge"},"content":{"rendered":"

Although the cryptocurrency markets have found some levels of support and stability around their current prices, many investors and analysts alike are looking towards future events that could potentially lead to a Bitcoin (BTC) price surge.<\/p>\n

Now, analysts are speculating that anticipation for Bitcoin\u2019s upcoming \u201chalving\u201d event could lead its price to surge.<\/p>\n

Analyst: Bitcoin (BTC) Could Surge in Next Few Months on Halving Anticipation<\/strong><\/h2>\n
At the time of writing, Bitcoin<\/a> is trading flat just below $3,600. Over the past couple of weeks, BTC has established the $3,500 region as a strong level of support, but without the cryptocurrency\u2019s bulls ramping up buying pressure, this support level could be weakening.<\/p>\n
Despite this, one theory regarding the potential price effect of the Bitcoin<\/a> mining rewards change that is set to occur sometime in May of 2020 (assuming there aren\u2019t any major swings with Bitcoin\u2019s mining hash rate) shows that historically, Bitcoin’s price has surged precisely one year before the halving\u00a0event occurs.<\/p>\n
In a recent tweet from popular cryptocurrency analyst, Moon Overlord, he explains that if this theory proves to be true this year, BTC may only see sideways price action for a few more months before surging.<\/p>\n
\u201cBitcoin has traditionally starting pumping around 1 year on average before it’s halving date\u2026 The next halving is estimated to be May 2020, meaning that the uptrend will begin in May of this year\u2026 In which case you’d only have a few months left to buy $BTC at this low of price,\u201d he explained while referencing a BTC chart that provides support for this claim.<\/p><\/blockquote>\n
https:\/\/twitter.com\/MoonOverlord\/status\/95325446<\/p>\n
If this is theory, which does appear to be historically accurate, is true, then BTC will begin a fresh uptrend in mid-to-late May that may allow the cryptocurrency to regain much of its recent losses.<\/p>\n
History May be on Bitcoin\u2019s Side<\/strong><\/h2>\nRecently, other popular theories<\/a>\u00a0set forth by analysts have signaled that Bitcoin\u2019s historical price action may strongly support the notion of 2019 proving to be a good year for the cryptocurrency.<\/p>\n
$\"\"$
“Sometimes history repeats itself. And sometimes it doesn’t.” -Adam Curtis<\/figcaption><\/figure>\n
Galaxy, another popular cryptocurrency analyst, recently put forth a chart that draws a striking parallel between Bitcoin\u2019s 2015 price action and current price action, which could mean that the markets will soon enter a multi-month accumulation phase followed by an uptrend.<\/p>\n
\u201cWe’re approaching the 420 day mark which ended the 2015 bear market and if history repeats itself, we’re moving towards several months of accumulation and a new bull cycle starting mid-late 2019,\u201d he explained, bullishly noting that Bitcoin\u2019s future \u201clies in the study of the past.\u201d<\/p><\/blockquote>\n
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"The future lies in the study of the past"<\/p>\n
We're approaching the 420 day mark which ended the 2015 bear market and if history repeats itself, we're moving towards several months of accumulation and a new bull cycle starting mid-late 2019. $BTC<\/a> #bitcoin<\/a> pic.twitter.com\/VX8ok9oFue<\/a><\/p>\n
— Galaxy (@galaxyBTC) January 14, 2019<\/a><\/p><\/blockquote>\n