RATE Group | Bitcoin Halving Overhyped: Previous Cycle Led to Another 6-Month Crypto Winter
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Bitcoin Halving Overhyped: Previous Cycle Led to Another 6-Month Crypto Winter

19 Feb Bitcoin Halving Overhyped: Previous Cycle Led to Another 6-Month Crypto Winter

Posted at 20:08h in Bitcoin News by

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The Bitcoin halving is right around the corner, less than three total months away. The event is said to cause extreme bullishness and could send Bitcoin to prices of $55,000 or higher shortly after the event takes place.

But while crypto analysts are expecting a massive rally following the Bitcoin halving, the last halving was the start of yet another crypto winter, before the bull market truly began.

Shock and Awe: Bitcoin Halving Expectations May Not Match Reality

The upcoming Bitcoin halving in May 2020 might take crypto investors by surprise.

The digitally-coded event will slash the block reward miners receive for validating each new block added to Bitcoin’s blockchain by half.

Related Reading | Analyst: Crypto Market Pullback Imminent But May Not Occur For Months 

The fewer supply miners receive, doubles the cost of production per BTC overnight.

Because of the cost of production so largely outweighs the price of Bitcoin, miners stop selling until prices catch up.

The lack of supply…

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