What does that mean for prices?
Possibly quite a bit!
If we look back at the previous two halving events, we can see that prices tended to do very well during the 10 months leading up into the halving.
Prices actually tended to do very well both a year prior and a year after, but for this post, we will just look at the 10 months prior, since that is exactly where we are right now.
The countdown can be seen here:
https://www.bitcoinblockhalf.com/
Curious how bitcoin did 10 months prior to the previous halvings?
Be curious no longer!
- 2012: 10 months before halving btc $5, at halving $12
- 2015: 10 months before halving btc $237, at halving $657
- 2019: 10 months before halving btc $10,000, at halving ???
In the previous two cases, bitcoin basically doubled and tripled.
If that pattern continues we would see bitcoin somewhere between $20k-$30k by May of 2020.
However, if it keeps increasing like it did during the first two halvings, it would imply a price around $40k by May of 2020.
Where do you think we will be?
I think there is a very good chance we are well over $20k by the time May of 2020 rolls around.
Stay informed my friends.
Image Source:
https://en.cryptonomist.ch/2019/05/20/bitcoin-btc-halving/
-Doc