While Bitcoin (BTC) is preparing for the halving that will take place in a few months, market commentators think that the price may move upwards from next month.
Cryptocurrency analyst Miles Deutscher shared a chart sourced from CryptoCon Bitcoin price Before past halving events how you move drew attention.
Bitcoin, which has been charting horizontally for a while, is trading at $27,664, according to CoinGecko data at the time of writing.
Talking about this graph drawn by Bitcoin, Deutscher said that it A typical table for the pre-halving periods said that:
The year before the halving price in the second-fourth quarters Typically there is such a horizontal movement.
Based on the halving events of the past years, Deutscher said that the price of Bitcoin, especially Upward after November 21 He noted that it was starting to move.
For example, in mid-2015 approximately six month Bitcoin, which progressed horizontally throughout the same year, to gain value in November started. Bitcoin similarly had a largely stagnant year in 2019 and towards the end of the year started to move.
As a result of the halving, which occurs approximately every four years Block rewards received by Bitcoin miners It will drop by half. Your next halving next April is expected to happen.
