Here's What To Expect As Bitcoin Approaches its Halving - My Perspective

#bitcoin #crypto #cryptocurrencies
I explain the Bitcoin Halving and its effect on Bitcoin's price going forward. Step by Step.

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Here’s a breakdown of how Bitcoin’s price will react as it approaches the Bitcoin Halving. Prior to every Halving, Bitcoin has experienced a retrace. And while the Bitcoin crash from a few weeks ago may have counted as this retrace, it is likely that BTC will still experience some volatility as it approaches the Bitcoin Halving.

This is in part due to investors buying the hype and selling the news. That said, the Bitcoin Halving isn’t an event that should be treated that way as it is a fundamental shift in the Bitcoin protocol and how miners are rewarded for their efforts when creating a new block on the Bitcoin blockchain. The pre-programmed deflationary function that is the Halving results in an enhanced scarcity in Bitcoin’s value and by the same token - its price.

Therefore the Bitcoin Halving is a bullish event that will continue to affect price for years to come after the Halving. Investors selling at a small profit after the Halving is what tends to occur historically speaking but this is merely a trap for short-term bulls as price tends to appreciate much more in the months that follow after the Halving.

So while in the short-term we may see limited upside and in fact quite a bit of consolidation, it’s important to take a long view on the price action of BTC and understand that the Halving has tremendous ramifications for BTCUSD price and that price appreciation post-Halving is likely. That said, another major low for BTCUSD’s price is still possible and it would likely be the last time price revisits lower price levels before a Halving-driven exponential rally to the upside.

But this rally may take time to truly rev up after the Halving. Consolidation after the Halving is quite common, especially after a sell-off which is likely to occur within the next month or two. So while another major low is possible with consolidation to follow afterwards, Bitcoin has a promising future lying ahead in 2021 and beyond.

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