Will Bitcoin rise again after the halving, just like before?

Will Bitcoin rise again after the halving, just like before?

The last Bitcoin halving occurred in mid-April. Since then, Bitcoin miners have only received half as much Bitcoin for their services as before. Initially, this was not appropriate, and the period surrounding the halving is often very turbulent. However, the price rose sharply again in the past. It remains to be seen whether this will happen again, but many analysts believe so.

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Further rise in Bitcoin in possibility?

The Internet is now full of analyzes of what happened in the past after each half. We now have four. The price rose three times before last April and then dramatically increased. After the first halving at the end of 2012, the price rose by about 9,000%. After the second halving in 2016, we saw a price explosion of ~2600%, and in 2020 we saw an explosion of ~600%.

You could even say that the halving was one of the main reasons for the rise in prices. We now have four “official” bull markets, three of which occurred at about the halving point. The first bull market happened shortly after Bitcoin was created, so it doesn’t really matter. If the current increase continues, all bull markets except 2011 will occur around half.

On social media platform X, Bitcoin analyst β€œRoot” shows that 3% of the four-year cycle has already passed. He points out that this would certainly lead to another increase. At least, judging by the past, yes. The exact same story was told by his fellow trader Titan or crypto.

Bitcoin miners are having a tough time

The price of Bitcoin (BTC) has been consolidating since mid-March. The halving occurred midway through this consolidation – such a sideways correction often occurs around the halving. One of the largest single Bitcoin mining companies also sold a significant portion of its newly mined coins in May.

The overall network hash rate and miner difficulty also decreased sharply. The latest value has not fallen as much as last month in 18 months. Meanwhile, miners hold a surprising number of bitcoins, according to history. Miners are usually very smart players. If they sell coins, it may actually be a bad market fit.

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