Historical price trends of Bitcoin, one week before and one week after the halving events that occurred in May 2020 and July 2016.
1. **May 2020 Halving**: - One Week Before: In the week leading up to the May 2020 halving, Bitcoin's price experienced heightened volatility and speculative trading. Traders and investors anticipated the halving event, leading to increased buying pressure and a gradual uptrend in prices. Bitcoin's price ranged between approximately $8,500 and $10,000 in the week preceding the halving. - One Week After: Following the halving, Bitcoin's price initially exhibited mixed reactions, with some short-term selling pressure as traders took profits. However, this was quickly followed by a notable uptrend, as the reduction in new supply entering the market drove increased demand and scarcity. Within a week after the halving, Bitcoin's price surged past $10,000 and continued to rally, eventually reaching new highs in the months that followed. 2. **July 2016 Halving**: - One Week Before: Similarly, in the week leading up to the July 2016 halving, Bitcoin's price experien