As Plan₿ identifies, the third Bitcoin halving event is now almost six months away. In the half-a-year leading up to the first halving event in 2012, the price of Bitcoin increased from around $5 to $12 (2.3x). Similarly, before the 2016 halving, the price shot up from around $350 to $650. This represents an increase of 1.7x. However, these gains are modest compared with those projected by some analysts for the aftermath of the next Bitcoin halving event. BeInCrypto’s own Valdrin Tahiri has previously provided evidence to suggest that a $400,000 Bitcoin might not be as ridiculous as it probably sounds today. Similarly, Rekt Capital (@rektcapital) has come up with comparable potential upper bounds for the post halving period:
We are at about 6 months before May 2020 #bitcoin halving.— PlanB (@100trillionUSD) October 16, 2019
In 2012 btc jumped from $5 to $12 (2.3x) in those 6 months before the halving. In 2016 btc jumped from $350 to $650 (1.7x). pic.twitter.com/DKSQBOO2TD
Do you think Bitcoin will see similar gains in the run-up to the third halving? How about afterwards? Comment below.
If #Bitcoin rallies just like it did in its previous two Halvings…— Rekt Capital (@rektcapital) September 10, 2019
Bitcoin's price will be $385,000 – $425,000
A $385,000 $BTC would mean that BTC's Market Cap (i.e $189 billion) will have eclipsed the Market Cap of Gold (i.e $7.8 trillion)https://t.co/4StGrayYMg#Crypto
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