Is the upcoming Bitcoin halving triggering the rise of Bitcoin? - page 2.

Mahanton

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Quote from: DustyRah on June 22, 2019, 01:41:09 PM

So we have Litecoin halving coming up. The media is talking about the Bitcoin halving coming up next year. That should push Bitcoin to ATH?

At the end of the day, miners need to become profitable so I think that will force the price of BTC to rise as the halvings occur. Forget 2020, I am more excited about the one in 2024 which will really reduce supply.

Any lost Bitcoins are gone forever and not replaced so that should also reduce supply over time. Scarcity will keep Bitcoin value on the rise over the long term.

Possible but its still far away but the market is already moving as it should be just like before when we do reaching up the Halving event.If it does then its better
to accumulate more bitcoins as much as we can but still it do needs risk management with your funds because we wont know on what would happen next.

peter0425

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Are you saying that people have started to accumulate bitcoin prior the the halving? If that is the case if might be the true reason for the sudden surge. However, the price increase doing look good and the pump should have expected after the block halving and not before, in my opinion.

WinslowIII

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Quote from: LeGaulois on June 22, 2019, 03:46:26 PM

When you compare previous charts, you can see the Bitcoin value increased AFTER the halving, in a period of several months. If you make a forecast following the previous halvings, you can see the BTC between $80,000 to $100,000 and the crash we got is 'normal'
Too soon right now to say Bitcoin halving is the reason. This rise started on April 1 for nothing we're not aware of

Yes, this rise can't be predicted by looking at previous charts, it has no precident 1 year before halving. Something else is going on, the most likely is that people are getting smarter and investing earlier. I expect a more steady climb up with a less drastic bear market drop over the next few years compared to the last few years.
Or maybe I'm just full of shit and there is a reason for this rise that I don't know.

LeGaulois

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When you compare previous charts, you can see the Bitcoin value increased AFTER the halving, in a period of several months. If you make a forecast following the previous halvings, you can see the BTC between $80,000 to $100,000 and the crash we got is 'normal'
Too soon right now to say Bitcoin halving is the reason. This rise started on April 1 for nothing we're not aware of

WinslowIII

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Quote from: exstasie on June 22, 2019, 02:39:37 PM

Quote from: WinslowIII on June 22, 2019, 02:35:35 PM

Such nonsense. One bitcoin has 100 million satoshies - even the poorest of poor will be able to use and benefit from bitcoin for the forseeable future. Will a poor person be able to obtain a single bitcoin? absolutely not, a single bitcoin is out of reach of billions as I type this.

It's incredible how quickly owning just 1 BTC is becoming unattainable for most people. What a time to be alive, and to have had the opportunity to get in near the ground floor! Still kicking myself for being bearish in 2015 and not buying all I could. Live and learn!

Yeah, I don't know how many people in the world who have an extra $10k to invest in what is still perceived as a gamble by the average person, but the % is small. So many people living paycheck to paycheck, and that's among the most developed countries.
If someone has acquired 1 bitcoin it makes no sense to sell unless you have to. Sit on it until you are a millionaire is my advice.

exstasie

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Quote from: WinslowIII on June 22, 2019, 02:35:35 PM

Such nonsense. One bitcoin has 100 million satoshies - even the poorest of poor will be able to use and benefit from bitcoin for the forseeable future. Will a poor person be able to obtain a single bitcoin? absolutely not, a single bitcoin is out of reach of billions as I type this.

It's incredible how quickly owning just 1 BTC is becoming unattainable for most people. What a time to be alive, and to have had the opportunity to get in near the ground floor! Still kicking myself for being bearish in 2015 and not buying all I could. Live and learn!

DebitMe

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Not yet, the price will rise eventually due to the halving, but historically it has always been after the halving, and in the case of the last one, took over a year to happen. So we will see rockets eventially from that as well.

WinslowIII

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Quote from: omonuyak on June 22, 2019, 02:03:45 PM

Quote from: DustyRah on June 22, 2019, 01:41:09 PM

So we have Litecoin halving coming up. The media is talking about the Bitcoin halving coming up next year. That should push Bitcoin to ATH?

At the end of the day, miners need to become profitable so I think that will force the price of BTC to rise as the halvings occur. Forget 2020, I am more excited about the one in 2024 which will really reduce supply.

Any lost Bitcoins are gone forever and not replaced so that should also reduce supply over time. Scarcity will keep Bitcoin value on the rise over the long term.

I think bitcoin is becoming something that poor people may not be able to use it in future based on the way things are going. If we are having halving in 2020 and the market has started to react to that now that we are in 2019 it means by 2020 June bitcoin may be above $100,000. I am hearing about this reduction in supply of bitcoin by 2024 and that is going to create scarcity and bitcoin may be more than $1,000,000 then.

Such nonsense. One bitcoin has 100 million satoshies - even the poorest of poor will be able to use and benefit from bitcoin for the forseeable future. Will a poor person be able to obtain a single bitcoin? absolutely not, a single bitcoin is out of reach of billions as I type this.

exstasie

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Quote from: DustyRah on June 22, 2019, 01:41:09 PM

So we have Litecoin halving coming up. The media is talking about the Bitcoin halving coming up next year. That should push Bitcoin to ATH?

Halving hype is definitely a thing. The market usually front runs the event and pumps before it happens. The recent LTC/BTC bull run is no exception.

I'm not sure if it'll mean a new ATH or not by that time. In the 2012 and 2016 halving pumps, the market topped out at 50-70% of the previous ATH. It might go higher sooner this time given how strong this bull run is, and how far away the halving still is.

Or, maybe this rally will end in a blow-off top soon and we'll range downwards for the next several months. Then the old model is still possible.

omonuyak

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Quote from: DustyRah on June 22, 2019, 01:41:09 PM

So we have Litecoin halving coming up. The media is talking about the Bitcoin halving coming up next year. That should push Bitcoin to ATH?

At the end of the day, miners need to become profitable so I think that will force the price of BTC to rise as the halvings occur. Forget 2020, I am more excited about the one in 2024 which will really reduce supply.

Any lost Bitcoins are gone forever and not replaced so that should also reduce supply over time. Scarcity will keep Bitcoin value on the rise over the long term.

I think bitcoin is becoming something that poor people may not be able to use it in future based on the way things are going. If we are having halving in 2020 and the market has started to react to that now that we are in 2019 it means by 2020 June bitcoin may be above $100,000. I am hearing about this reduction in supply of bitcoin by 2024 and that is going to create scarcity and bitcoin may be more than $1,000,000 then.

DustyRah

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So we have Litecoin halving coming up. The media is talking about the Bitcoin halving coming up next year. That should push Bitcoin to ATH?

At the end of the day, miners need to become profitable so I think that will force the price of BTC to rise as the halvings occur. Forget 2020, I am more excited about the one in 2024 which will really reduce supply.

Any lost Bitcoins are gone forever and not replaced so that should also reduce supply over time. Scarcity will keep Bitcoin value on the rise over the long term.

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