Topic: Bitcoin is Up by 16% Post Halving - page 2. (Read 264 times)
IMO Bitcoin price isn't affected by halving, pump and dump is normal in cryptocurrency. Bitcoin is high volatility, the price can change around 30%/day. Many people are always expecting bitcoin will bullish after halving. I won't surprise while Bitcoin is in bullish, many journalists will create a good news by correlating the price with halving. It's not always from halving FOMO, but supply and demand in markets.
It is good to see that amid the crisis Bitcoin resistance is still rallying strong. From almost $10k a week before halving, then it drops at $8,700 during halving, and bounce back to $9,500 at this time. Felt that was a normal scheme at this time.
10%, 20% increase isn't impressive but if we could see it at 50%, people will absolutely think about Bullrun and that is what they wanted to see.
To see the impact of the pandemic in crypto, I have to say that Covid-19 is a big factor that helps the economic growth of Bitcoin during halving.
10%, 20% increase isn't impressive but if we could see it at 50%, people will absolutely think about Bullrun and that is what they wanted to see.
To see the impact of the pandemic in crypto, I have to say that Covid-19 is a big factor that helps the economic growth of Bitcoin during halving.
(....)
Correlation doesn't equal causation, any logical trader will realize that the halving is simply incidental at this point, it will take some time until the reduced mintage has a knock-on effect on the price action of Bitcoin. (If ever).
Because people think that the block halving on Bitcoin could trigger the price of Bitcoin for parabolic move.Correlation doesn't equal causation, any logical trader will realize that the halving is simply incidental at this point, it will take some time until the reduced mintage has a knock-on effect on the price action of Bitcoin. (If ever).
Why? Because they are used to on previous block halvings on Bitcoin, they able to experience a huge price action for every block halving.
But what other is waiting, the pump after the block halving, like months after, not before or during the block halving.
Some people expecting it to happen around year 2021.
Bitcoin is actually trading at $9,500—not $9,700.
In any case, we can't say that this growth can be attributed to the halving, since Bitcoin has already been on a dramatic uptrend since at least mid-March (after getting half of its value slashed as a result of the COVID19 pandemic).
Correlation doesn't equal causation, any logical trader will realize that the halving is simply incidental at this point, it will take some time until the reduced mintage has a knock-on effect on the price action of Bitcoin. (If ever).
In any case, we can't say that this growth can be attributed to the halving, since Bitcoin has already been on a dramatic uptrend since at least mid-March (after getting half of its value slashed as a result of the COVID19 pandemic).
Correlation doesn't equal causation, any logical trader will realize that the halving is simply incidental at this point, it will take some time until the reduced mintage has a knock-on effect on the price action of Bitcoin. (If ever).
The third bitcoin halving happened on May 11 during the coronavirus chaos. But the king of crypto seems unstoppable. Despite the biggest financial trials of our time, bitcoin was able to climb by 16% since the halving took place. BTCUSD was trading at $8,436 last Monday and started an upturn, briefly touching the $10,000 mark – a bullish surge erasing its weekend crash. It is going up past $9,700 as of writing.
https://bitcoinist.com/bitcoin-is-up-by-16-post-halving/
https://bitcoinist.com/bitcoin-is-up-by-16-post-halving/
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