Exchange Crypto

    Bitcoin Price Still Massive 75% Away From Next Bull Peak, Squeals Analyst

    Bitcoin Price Still Massive 75% Away From Next Bull Peak, Squeals Analyst

    By CCN: Since December 2018, within 168 days, the bitcoin price has increased by more than 130 percent year-to-date against the U.S. dollar, engaging in a powerful recovery following its crash to $3,150.

    Based on the historical performance of bitcoin and the length of bull markets throughout the past eight years, cryptocurrency trader Josh Rager suggested the likelihood of the bitcoin rally being sustained throughout the next two years.

    Although the bitcoin price briefly dropped to $8,000 as reported by CCN in an unexpected 11 percent drop, many traders have expressed their optimism towards the dominant cryptocurrency on a macro level.

    Historically, the bitcoin price has tended to perform strongly a year before and after a scheduled block reward halving.

    A block reward halving is a mechanism on the Bitcoin blockchain network that reduces the rate in which new BTC is produced by miners every four years as the supply of the asset closes on its fixed supply of 21 million.

    The growing awareness of the block reward halving as well as increasing institutional interest, retail demand, and improving custodial infrastructure could be considered as potential catalysts of bitcoin.

    Related News:

    Add Comment

    Bold Italic Underline Strike | Align left Center Align right | Insert smilies Insert link URLInsert protected URL Select color | Add Hidden Text Insert Quote Convert selected text from selection to Cyrillic (Russian) alphabet Insert spoiler
    Enter code: *
    Up © 2014-2018 Copyright BitcoinVEVA