Crypto News

Historical data indicate the resumption of the rally of bitcoin within the next 6 months

Over the next six months we can expect aggressive growth of the first cryptocurrency – so says analyst under the name PlanB.

He posted on Twitter, which noted that the coin could grow by about 150% for several months before the planned reduction in the reward of the bitcoin miners, or so-called halinga.

In may 2020, rewarding miners for the extraction of the block will halve from 12 to 6.5 BTC, which could lead to a weakening of production due to low profitability, many observers believe.

A few months before halving in 2012 and 2016 is observed, the rally of bitcoin, when the price increased by 140% and 86%, respectively.

Now the first cryptocurrency was trading at $8000, its market capitalization on Wednesday, October 16, was reduced to $144,307 billion.

The analyst wrote on his page in social network:

We are approximately 6 months until may 2020, reduce twice. In 2012, BTC jumped from $5 to $12 (2.3 times) in the six months before the halving [of halving]. In 2016 BTC jumped from $350 to $650 (in 1.7 times).

Thus, PlanB concludes that an analysis of the movement of bitcoin before reducing the award of eight miners and four years ago and project it in today’s time, we can assume that starting from October to may, and BTC should not only hold on to the current values, but also significantly strengthen their positions.

The expert did not define the boundaries of a new rally, but only added that it will be aggressive.

Source:coinspot.io
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