RATE Group | Post-Halving Bitcoin to Hit $100,000 in 2020? It’s Unlikely, Data Shows
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Post-Halving Bitcoin to Hit $100,000 in 2020? It’s Unlikely, Data Shows

22 Jul Post-Halving Bitcoin to Hit $100,000 in 2020? It’s Unlikely, Data Shows

Posted at 11:17h in Bitcoin News by

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In around 300 days, Bitcoin (BTC) will experience what is known as a “halving” or “halvening”. This event, which occurs in predictable four-year cycles, sees the amount of the cryptocurrency issued every ten minutes halve, this time from 12.5 coins to 6.25 coins per block.

Related Reading: Bitcoin Bears Ramp Up Selling Pressure as Weekly Close Looms; Factors & Trends

This is Bitcoin’s monetary policy, which is practically set in stone due to the consensus mechanisms that Satoshi Nakamoto implemented into his brainchild.

While the halving may seem mundane, with it being something that the mainstream and media outlets can easily gloss over, Bitcoin investors have clutched to these events as precursors to bull rallies.

Just look to the below chart. As the long-term, logarithmic chart of BTC’s price history accentuates, the halvings, marked by the black vertical lines, were what seemingly kicked off parabolic moves higher, during which the cryptocurrency market saw spurts of…

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