So the highly anticipated halving of Bitcoin has been and gone. So what did we find out?
Bitcoin broke the $10k mark again. Then, it dropped back below the $10k mark…… again! Bitcoin does seem to struggle at this price, but the constant attacks at $10k may show traders that maybe this key price may break soon.
So lets look at future price. A lot of emphasis at the minute is on the previous post-halving trends from previous times. If Bitcoin happens to follow the same pattern and % increase, then Bitcoin would reach $75k a coin at some point in 2020. This may seem a little optimstic. However, if Bitcoin does manage to break away from the $10k mark, then a price between $12k and $20k is more than plausible.
For now tho, there are mixed feelings on which way Bitcoin will go in the short term. Some see a break above $10k, where as some are predicting a drop as low as $7.5k before we see a vast increase.
Just remember, this is all speculation from previous halving analysis and any prediction should be taken with skepticism. Always do your own research before investing, especially if you are margin trading.
One thing is for certain, we can be highly optimistic about the future of cryptocurrency.
Tell us your thoughts…..
Matt @ CT4B