RATE Group | Halving Battles Coronavirus as Bitcoin Enters Its Provably Bullish Quarter
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Halving Battles Coronavirus as Bitcoin Enters Its Provably Bullish Quarter

31 Mar Halving Battles Coronavirus as Bitcoin Enters Its Provably Bullish Quarter

Posted at 17:15h in Bitcoin News by

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Bitcoin is set to close its one of the most roller-coaster fiscal quarters in a negative area. But the cryptocurrency’s biggest test now lies in the 2020’s second quarter as it arrives in the middle of two very distinctive market catalysts: Halving and Coronavirus.

Halving is bullish, at least according to a plethora of bitcoin maximalists and analysts that see the May 2020 event as an upside price driver for the cryptocurrency. They believe that bitcoin’s daily supply cut from 1,800 BTC to 900 BTC would appeal to investors looking to park their capital in scarce assets.

The sentiment is backed by bitcoin’s history of delivering outstanding bull runs after each of its halvings. It was worth $12 around the first event and about $650 around the second. And now in its third outing as an undersupplied asset,…

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