The Currency Analytics
By Sydney TheCMO
The weekend plunge is not to sustain
Halving history shows bullish trend post halving
Don’t worry over halving of reward
Rising popularity of the coin despite COVID-19 pandemic
Increased support from institutional investors
With the third Bitcoin halving round the corner, the crypto community is abuzz with mixed range of anticipations and speculations.
On the other hand, April brought good news and by May 8, BTC was hovering around a whopping $10,000.
Honestly, it was disappointing to find BTC dropping straight to $8,100 from $10,000 in just a day.
“At present, BTC is having a hard time to beat two high end VPVR nodes right from $8,739 to $8,952. But, as we have just seen, the coin has already started to recover.
The history of Bitcoin halving shows a stellar rise in the coin price post halving both in 2012 and 2016.
Some miners are definitely worried over halving of rewards post third Bitcoin halving. But, we are expecting a 2-3x increase in BTC price after the third halving which only…
A major reason behind rise in BTC price after halving is the basic rule of economics- increased demand and reduced supply.
Financial markets have suffered a major fall in the wake of the COVID-19 pandemic and the crisis has affected the crypto market too.
With fiat weakening under the claws of COVID-19 pandemic, a large number of elite financial institutions are proactively investing in crypto industry, especially in BTC.
Good news is current BTC miners are comparatively in a favourably stance than the other two halving sessions.