Bitcoin is Up 1500% Since Last BTC Block Reward Mining Halving

Bitcoin is Up 1500% Since Last BTC Block Reward Mining Halving
фото показано с : bitcoinexchangeguide.com

2020-5-8 01:47

Bitcoin is officially up 1523.11% from its last halving event in 2016, as pointed out by user @cryptowat_ch on Twitter. After the last halvening took place, the coin rallied to a new high of $750 the same year, and some analysts believe that this year's halving event, which is due to occur May 11, will hold a similar promise of a new all-time high.

Analysts are presently debating whether bitcoin’s halving event is “priced in” to the current market action or that we will see a parabolic rally as we did in 2017 when bitcoin reached its all-time high of $20,000.

In either case, halving events reduce the supply of the bitcoin in circulation while demand is assumed to be the same, which is theorized to be the one of the causes of the coin’s sharp ascent.

Bitcoin seems to be on track to deliver a new record as it gained 5.4 percent in the last 24 hours and 36.8 percent month to date. Over the last year, the coin has gained a huge 70.1 percent.

Over the last 24 hours, the coin made a new one-month high of $9,956 and is now looking to breach the $10,000 psychological mark. This level would also be a 38.2 percent retracement from bitcoin’s 52 week high, which means it could face additional resistance on the way up.

Bitcoin’s previous resistance at $9,000, which buyers originally struggled to conquer, has been tested several times which is a sign of strength for the cryptocurrency. The new support levels for the coin are at $9658 and $9453.

At the time of writing bitcoin is in overbought territory according to the RSI. This means it’s possible that the coin will face a pullback before trading horizontally for a while so that buyers can catch their breath before climbing higher.

Now, in approximately four to five days from time of bitcoin price news watch regarding the 2016 halving, which took place on July 9, 2016, the third BTC block reward halving is set to take place. This will be number three in what will be roughly thirty-three different halvings set to take place from Bitcoin's storied journey from 2009 to roughly 2140.

The next time this bitcoin halving will take place will not be until the year 2024. As it stands now, over 87% of all the coins have been mined in the past 11 years, which means only 12% of all bitcoin will be issued in the next 120 years. As the world begins to go through unlimited quantitative easing, bitcoin is effectively going through quantitative hardening, furthering its digital scarcity narrative that could be the catalyst to send bitcoin and its digital gold hopes skyrocketing as institutional demand picks up and retail investors start to allocate money into alternative asset classes such as cryptoassets.

Live Bitcoin (BTC) Price: 1 BTC/USD =$9,872.3552 change ~ 5.71%

Coin Market Cap

$181.34 Billion

24 Hour Volume

$16.4 Billion

24 Hour VWAP

$9.77 K

24 Hour Change

$563.2858 var single_widget_subscription = single_widget_subscription || []; single_widget_subscription.push("5~CCCAGG~BTC~USD");
Latest Bitcoin Price News and Crypto Market Updates 12:26 PM CME Bitcoin Futures Jumped Past $10,000, Reacting Strongl... 06:52 AM Bitcoin (BTC) Price Analysis (May 8) 11:11 PM Paul Tudor Invests In Bitcoin Futures, a Catalyst for BTC... 01:04 PM Bitcoin Enjoying 8 Straight Weeks of Upside; Last Seen in... 07:07 AM Bitcoin (BTC) Price Analysis (May 7) 06:57 PM Pantera Capital CEO Dan Morehead: Bitcoin Could Peak at $... 04:07 PM BTC is in A 'Bullish Consolidation' While Whales Are in '... 12:32 PM Bitcoin on the Move Towards $10k Just 5 Days Ahead of Hal... 07:31 AM Bitcoin (BTC) Price Analysis (May 6) 08:25 PM What’s the Issue with S2F’s $288,000 Bitcoin Price Predic...

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Event Token (EVENT) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Доступно / Всего 0 EVENT

halving event year bitcoin 750 same coin

halving event → Результатов: 126


Weiss Crypto Ratings upgrades Bitcoin an A- or excellent rating as BTC surges past $10,000

Weiss Crypto Ratings updated its rating for Bitcoin, which again surpassed the $10,000 mark and is currently trading at $10,068. Weiss now gives Bitcoin an A- or “excellent” rating because its fundamentals are improving and its price is also surging ahead of the BTC halving event, which will take place in about three months from […] The post Weiss Crypto Ratings upgrades Bitcoin an A- or excellent rating as BTC surges past $10,000 appeared first on CryptoSlate.

2020-2-9 13:40


Bitcoin Halving to Have “Tiny” Supply Shock; More Important Events in 2020

Bitcoin’s mining rewards halving event has long been looked towards as a bullish fundamental event that would catalyze a massive BTC uptrend due to the resulting inflation reduction. In spite of this, one prominent angel investor is now noting that the supply reduction resulting from this event will be “tiny,” and that it is highly... The post appeared first on NewsBTC.

2020-2-5 00:00