Analyst have predicted that the halving of Bitcoin projected for May 2020 could lead to a BTC price surge beginning May 2019.
At press release, BTC is trading just below $3,600. Over the past few weeks, BTC has established the $3,500 region as a strong level of support, but without the cryptocurrency’s bulls ramping up buying pressure, this support level could be weakening.
Despite this, one theory regarding the potential price effect of the Bitcoin mining rewards change that is set to occur sometime in May of 2020 (assuming there aren’t any major swings with Bitcoin’s mining hash rate) shows that historically, Bitcoin’s price has surged precisely one year before the halving event occurs.
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