Over the next six months, we will be waiting for the aggressive growth of the first cryptocurrency, as it believes Analyst under the nickname PlanB.
He posted a post on Twitter in which he notedthat the coin can grow by about 150% for several months before the planned reduction in the bitcoin miner reward or the so-called halving.
In May 2020, the reward for miners for mining the block will be halved from 12 to 6.5 BTC, which could lead to a weakening of production due to a decrease in its profitability, many observers say.
A few months before the halving in 2012 and 2016, the Bitcoin rally was observed, when Bitcoin rose in price by 140% and 86%, respectively.
Now the first cryptocurrency is trading at $ 8,000, its capitalization on Wednesday, October 16, dropped to $ 144.307 billion.
The analyst wrote on his page on the social network:
“We are located about 6 months before May 2020year, halving. In 2012, BTC jumped from $ 5 to $ 12 (2.3 times) in the six months to a halving [halving]. In 2016, BTC jumped from $ 350 to $ 650 (1.7 times). ”
We are at about 6 months before May 2020 #bitcoin halving.
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
- Plan₿ (@ 100trillionUSD) October 16, 2019
Thus, PlanB concludes that ifto analyze the dynamics of Bitcoin movement before reducing the miners' rewards eight and four years ago and project it for today, it can be assumed that from October to May BTC should not only maintain its current values, but also significantly strengthen its position.
At the same time, the expert did not mark the boundaries of the new rally, but only added that it would be aggressive.