RATE Group | Bitcoin To Explode To $18,000 Ahead Of Halving, As Probability Of New ATH Grows
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Bitcoin To Explode To $18,000 Ahead Of Halving, As Probability Of New ATH Grows

15 Feb Bitcoin To Explode To $18,000 Ahead Of Halving, As Probability Of New ATH Grows

Posted at 18:34h in Bitcoin News by

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Bitcoin has already had an explosive start to 2020, but the rocket ship is only just getting started with the cryptocurrency’s halving just “around the corner.”

According to historical data, Bitcoin could rise to as high as $18,000 ahead of the halving, and with the probability of a new all-time high rising by the month, any post-halving correction could be the last drop before a new record is set.

Bitcoin to Skyrocket by 80% Ahead of Halving?

Bitcoin’s recent rally is in part fueled by the hype surrounding the asset’s upcoming halving this May. It’s even caused a surge in Google search queries on the topic.

When the halving rolls around, the block reward miners receive for powering the network is slashed in half, causing the cost of production of each BTC to double overnight.

Related Reading | Historic Bitcoin Cycle Suggests No New All-Time High Until 2021 

The theory is that this causes miners to sell less Bitcoin into the market until valuations improve.

The less supply…

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