RATE Group | Halve The Reward, Halve The Price? New Chart Forecasts $3K BTC By 2020
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Halve The Reward, Halve The Price? New Chart Forecasts $3K BTC By 2020

18 Aug Halve The Reward, Halve The Price? New Chart Forecasts $3K BTC By 2020

Posted at 17:17h in Bitcoin News by

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Bitcoin price (BTC) could continue dropping for the next two years, a new forecast which takes into account the possible effect of the next block reward halving has revealed.

The Halving Factor To Hit Bitcoin?

Uploaded to Twitter August 13, the chart, which “factors in” Bitcoin’s third halving in May 2020 suppressing prices, shows BTC/USD ‘bottoming’ at $3000 just before the event.

The trend would continue three previous cycles in Bitcoin 00, the cryptocurrency now beginning a fourth, which would last through the next halving.

As Bitcoinist reported this week, the May 2020 event could well prove to be a turning point for prices, ending the latest downtrend which could characterize the next two years.

Community members appeared to react well to the idea, Willy Woo highlighting contrasts between the state of the Bitcoin network in 2018 versus 2014 at the start of the second ‘cycle.’

According to Woo, it is “worth bearing in mind ‘14-‘15 was detoxing from a MtGox…

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