Skip to main content

Bitcoin Price Will Dump At Halving And Moon Afterwards, Majority Believes


Polls surveying over 15,000 people suggest that the majority believe Bitcoin’s price is likely to dump as the halving happens and skyrocket later on. This coincides with the behavior of the cryptocurrency following the previous halvings.

 Mooning Postponed, Bitcoin Will Dump At Halving
A few well-known members of the cryptocurrency community recently initiated polls to see what do users think will happen to Bitcoin’s price at and after the upcoming halving.

The first poll cited the halvings of both Litecoin and Bitcoin Cash, explaining that their price decreased as the events took place.

Almost 48% of participants believe that BTC will dump while the remaining are thorn between sideways trading and a potential increase. Though the poll still has time to go, almost 10,000 people took part in it so far.
The second survey was more straightforward, directly asking people what they think will happen to the price following the halving. 44% said that it will see a “big dump, then moon.” Interestingly enough, this poll had another voting option where 18% of people indicated that they “don’t care” and continue to “stack sats.”
Last but not least, popular YouTuber and Bitcoin analyst The Moon Carl also asked people where they see Bitcoin’s price this year, giving them two possible options – $2,000 or $20,000. The overwhelming majority of participants (72.1%) opted for $20,000.
Evidently, most of the people expect a decrease in Bitcoin’s price to take place around its halving. However, they are also rather bullish in the mid-term, thinking that it will increase this year.
History Is On Their Side
For those who follow Bitcoin’s price history, the results are probably not a surprise. As I  reported, the halving has acted as a massive bullish catalyst for Bitcoin’s price in the past.
The periods following the halvings of 2012 and 2016 have both been particularly lucrative for the cryptocurrency. However, the increases it charted didn’t come immediately after but rather following a longer time period.
2012’s halving took place on November 28th and in September 2013, Bitcoin’s price had increased by a factor of 10x. During the second halving on July 9th, 2016, BTC was trading at around $650 and in the following year it increased by more than 400% and after that it went on to reach its all-time high of $20,000.

Comments

Post a Comment

Popular posts from this blog

Legendary Rock Star Gene Simmons Buys Cardano (ADA) Worth $300,000

Famous rock star Gene Simmons continues his cryptocurrency adventure, this time investing $300,000 in Cardano (ADA). Gene Simmons, the legendary KISS bassist, has made another dip into cryptocurrencies. The famous musician has expressed his belief in Cardano, presuming 2021 would be “the most productive year” for the altcoin. Believing in the Future of Cardano Rock star Gene Klein, aka Gene Simmons, has appeared in online social media with yet another pro-cryptocurrency commentary. This time KISS’s legendary bass guitarist has expressed his opinion on Cardano and its native digital coin ADA. In his  recent publication  on Twitter, Simmons explained one of his fundamental personal reasons for  investing  and holding the altcoin. The musician pointed out that he believes in Cardano because of Hoskinson (Charles) – Cardano’s creator and co-founder of Ethereum. In his tweet, the musician expressed his trust in the altcoin hopping on Hoskinson’s envision that 2021 would b...
Post a Comment
Read more

Bitcoin Hash Rate Hits All-Time High: Here’s How It Works And How It Affects The Price

Bitcoin intelligence, data, and analytics firm Glassnode found the Bitcoin hash rate hit a new all-time high over the weekend, ten days before the Bitcoin halving event. In other words, miners are putting more computational power into maintaining the Bitcoin network. Because miners must venture electricity and capital intensive computer processors to mine Bitcoin, the increase in hash rate is a bullish sign. It means miners are after the Bitcoin rewards they get from maintaining the network. And they’re venturing the resources to go after those rewards. Is The Bitcoin Hash Rate Correlated With The Price? In general, the Bitcoin price and the hash rate are not correlated. The price is what buyers and sellers agree to pay for one Bitcoin, and there are many factors – external and internal – affecting the price. However, there is a relation between the two. While the price goes up, it’s more profitable to mine, which likely to cause more miners to turn on their mining equ...
Post a Comment
Read more
  First US Stimulus Check Now Worth Almost $9,000 if Invested in Bitcoin If American citizens used their $1,200 stimulus checks to buy BTC in April 2020, they would have seen a return of over 620%. A bitcoin investment worth $1,200 following the first stimulus checks sent by the US government in April 2020 would have skyrocketed by more than 600% until today to over $8,500. Although this is a spectacular growth for less than a year, the same investment put in Ether would have presented an even better ROI of over 1,000%. Option 1) Stimulus Put In BTC The US government initiated a drastic measure last year to sent stimulus packages to its citizens following the COVID-19 pandemic, which caused numerous disruptions to people’s lives, businesses, and personal finances. Following the initial deal that then-President Donald Trump signed, the Federal Reserve sent out checks worth $1,200 to every adult making below $75,000 per year. The first  reported  cases of people receiving t...
Post a Comment
Read more