June 18, 2024

Copy-paste | Will Bitcoin Slow Ahead of Third Halving?

Halving occurs on the Bitcoin network every 210 thousand new blocks mined. After each suchhalving reward to the miner for each minedthe block is halved. This event happens about once every four years, so while in the history of bitcoin there were only two. The third halving is expected in May 2020.

We wrote earlier that, according to our estimates,In May 2020, the Bitcoin rate may be trading in the range of $7,000-$8,000. This implies that the growth rate of the world’s main cryptocurrency during the period between two neighboring halvings will be much lower compared to previous halvings. Presumably, this time the scale of growth will be only about 1000%. These estimates are also confirmed by the dynamics of the logarithmic growth curve, the growth rate of which also slows down over time.

Twitter user @chartsbtc recently recalled the dates of previous halvings and the accompanying Bitcoin rates:

  1. November 11, 2012 - $ 12
  2. September 7, 2016 - $ 658
  3. May 2020 -?

Copy-paste | Will Bitcoin Slow Ahead of Third Halving?
Bitcoin Charts@ChartsBtc

Bitcoin Halving Candles

Copy-paste | Will Bitcoin Slow Ahead of Third Halving?

As the statistics collected since the launch of the first cryptocurrency show, by the time of the first halving, the bitcoin rate had managed to grow by 11000%.For the period between the first and second halving, the price increase was 5500%.What the third halving will bring us is still shrouded in mystery.

Growth rate

Below we provide a graph with detailed data on the growth rate of bitcoin from one halving to another, as well as with dates of halving:

As you can see, with each subsequentHalving currency strengthened at an ever slower pace. It is hardly worthwhile to clarify that the figures for the third halving are presented by us as indicative and are a forecast based on the expected price dynamics.

Continued at https://beincrypto.ru/bitkoin-zamedlitsya-v-preddverii-tretego-halvinga/