{"id":404757,"date":"2019-11-19T04:00:06","date_gmt":"2019-11-19T04:00:06","guid":{"rendered":"https:\/\/uniquehot.com\/?p=404757"},"modified":"2024-06-11T13:34:15","modified_gmt":"2024-06-11T13:34:15","slug":"possibility-of-first-bearish-bitcoin-halving-as-miners-start-to-sell","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/possibility-of-first-bearish-bitcoin-halving-as-miners-start-to-sell\/","title":{"rendered":"For First Time Ever, Bitcoin Set to go Into 2020 Halving in Bearish Action"},"content":{"rendered":"

As bitcoin prices slide even further this week analysts have been looking at the bigger picture which is growing increasingly bearish. Previous approaches to BTC halving have been bullish but the opposite appears to be developing this time around, at least according to one analyst.<\/p>\n

BTC Slides Further<\/h2>\n

Bitcoin<\/a> is in danger of falling back below $8,000 again as it takes another beating by the bears. A few hours ago prices broke down again in a plunge from $8,450 to wick down to $8,000 before the slight recovery.<\/p>\n

\"bitcoin\"<\/a>
BTC price 1 hour chart – tradingview.com<\/figcaption><\/figure>\n

The price bounced back a little to settle just below $8,200 but it marks a loss of over 4% since the weekend. The down trend is clearly intensifying as Chinese FOMO fades out. Analysts are largely bearish as most are eyeing further losses in another fall to support around $8k.<\/p>\n

A Bearish Bitcoin Halving?<\/h2>\n

There are still six months to go before the Bitcoin halving but this could be the first one that has a bearish run up. Industry analyst Willy Woo has looked at the longer time frame charts and noticed that historical halvings have always been bullish<\/a> leading up to the event.<\/p>\n

\u201cNEVER gone into a halvening in BEARISH price action, miners already capitulating adding sell volume. Historically we front run with a BULLISH setup, miner capitulating only after halvening when revenues are slashed. This is a unique setup. Quite bearish leading up to the event.\u201d<\/p><\/blockquote>\n

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NEVER gone into a halvening in BEARISH price action, miners already capitulating adding sell volume. Historically we front run with a BULLISH setup, miner capitulating only after halvening when revenues are slashed. This is a unique setup. Quite bearish leading up to the event. pic.twitter.com\/20748Zv8aQ<\/a><\/p>\n

— Willy Woo (@woonomic) November 18, 2019<\/a><\/p><\/blockquote>\n