May 25, 2022

What will be the price of bitcoin on the eve of halving in May 2020

What will be the price of bitcoin on the eve of halving in May 2020

It can be called incorrect and inexplicable, but the price of bitcoin (BTC) varies according to mathematical laws, and this model has already worked twice. Will it be repeated a third time and what BTC rate to expect?

We have prepared an article with an overview of the forecast fromBenjamin Cowen. It is based on pure mathematics and accurately shows what the price of bitcoin will be during the next tuzemun, set its date and even gave a forecast of the value of the first cryptocurrency before halving.

Litecoin, halving, growth

We do not start right away with an analysis of the promised forecast, butwith a small introduction, which is based on the following observation. There is such an opinion, and it does not belong to us, that the price of Litecoin goes slightly ahead of Bitcoin and shows a very similar chart. And remember how many expected the growth of lightcoin before its halving in August 2019? After all, the price rose earlier, and even halving reduces the profitability of miners and can only be compensated for by an increase in value.

In parallel with this opinion, there was another. That lightcoin has already taken its maximum before halving when it has risen to $ 140, and then the price will go down. But even the statement by the creator of Litecoin that the magic of halving is dictated only by the fact that people believe in it and buy, did not save many from the desire to catch growth that was not there.

And if we stick to the theory that priceLightcoin can be an indicator for bitcoin, then we have a serious problem, because the growth before halving could already pass and now we will confidently crawl down.

Bitcoin $ 141,000

Video, which will be discussed now, authorshipBenjamin Cowan really deserves attention. Let's see what he did, and start with the logarithmic price of bitcoin, on which lines are plotted showing the dynamics of the course.

The next step is to set the price of bitcoin on the chart.at the peak and at the bottom. It will be almost $ 32, $ 1,150, and our last favorite native with a price of $ 19,500. Please note that you could get used to other prices, it all depends on which cryptocurrency exchange or portal you look at, but the order is generally the same.

Also on the chart we see three bottoms when the courseBitcoin first fell to $ 2, then to $ 177 and the last time it was $ 3,200. Thus, the price of bitcoin is constantly increasing its highs and lows from one market cycle to another, but the percentage of growth decreases. So, for example, between the last tuzemuns the growth was only 1,500%, although the previous cycle showed a yield of 3,500%.

Further simpler - change in growth betweenthe highs and lows of the price are the same. Therefore, we calculate these coefficients and with their help we consider how much bitcoin will grow this time. And according to this forecast, in 2022, the price of bitcoin will reach its new maximum and it will be $ 141,000. After that, we will get another cryptozyme and in about a year the rate of the first cryptocurrency will drop to $ 30,000.

This forecast is strong because it is based on simplefigures. And according to him, even if you bought bitcoins on a hype in December 2017 and remember cryptocurrencies only after six years, you can get one and a half times more than you invested. And if you wake up a year earlier, you can take your money multiplied by 7. Well, those who didn’t buy at the peak and may have caught the current bottom will receive about 45 Xs, which is pretty good overall.

But there is bad news in this forecast for thosewho would like to see growth right now. After all, the price of bitcoin is in the area in which it was usually before halving. And from the current level there is even room to go down below.

findings

Call it logic, but you can countobstinacy or hope. But no matter what you call it, what we expect is important, and we will be happy if this information is useful to you, but remember that this is by no means a financial recommendation.

What observation can be drawn from thisforecast? Pure mathematics works only at the highs and lows of the price, but inside the cycles the picture can change. Consequently, the behavior of the price of bitcoin immediately a few months before the halving is volatile, and this absolutely does not have to be a downtrend.

Also look at the price of bitcoin duringhalving and compare it with the one that was at the bottom of each current cycle. They differ at times. Therefore, we want to appeal to everyone who is waiting for the continuation of a strong fall and even a new bottom with the sale of bitcoins below $ 3,000. It is possible that in a couple of months you will have to bite your elbows disappointedly, because bitcoin will not come to the price that you set yourself for purchase. You remember that the market never does what is expected of it!

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