Despite the fact we are seeing a bounce today, many have pronounced bitcoin dead.
In fact, bitcoin has already died 27 times in its 10 year history, yet here it is. Although this time it is gonna be different, right?
It may very well be, but as of right now, it is not dead and not anywhere near dead.
I stumbled upon a very easy to read guide of things to look out for when determining whether bitcoin is dead or not.
Check this baby out:
(Source:
)https://twitter.com/TraceMayer/status/1067839354444410882
- TraceMayer
According to this chart, as long as bitcoin is settling large amounts of money every day, has a unit value greater than zero, and/or blocks are still arriving roughly every 10 minutes, bitcoin is alive and kicking!
Who would have thought?!
Not only is bitcoin not dead, a rally is likely on the way...
In all seriousness though, the next reward halving is in 544 days.
In the past, bitcoin prices have tended to bottom well before the halving date, around 1 year prior to be more precise (give or take a few months):
(Source: https://ihodl.com/infographics/2018-04-09/chart-day-bitcoin-reward-halving-and-price-history/)
We have roughly a year and a half until the next one.
You do the math...
What should we expect?
In terms of what to expect, pay special attention to what has tended to happen the year prior to, and following reward halvings.
Do you see what I see?
Stay informed my friends.
Image Source:
https://ethereumworldnews.com/bitcoin-is-not-dead-says-brian-kelly/
