Skip to main content

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 experienced upward momentum fuelled by anticipation and speculation. Traders and investors closely monitored price movements, leading to increased trading activity. Bitcoin's price ranged between approximately $600 and $700 in the week preceding the halving.

   - One Week After: Following the halving, Bitcoin's price exhibited a more gradual uptrend compared to the May 2020 halving. There was less immediate price action, with some consolidation and minor fluctuations as the market adjusted to the reduced block rewards. However, within a week after the halving, Bitcoin's price began to steadily climb, setting the stage for a more prolonged bull run in the months and years that followed.

Free referral codes and live crypto news
Free referral codes and live crypto news

Overall, both before and after the halving events, Bitcoin's price experienced heightened volatility and speculative activity. However, the exact price movements varied depending on factors such as market sentiment, macroeconomic conditions, and investor behaviour. In both cases, the reduction in new supply entering the market eventually led to increased scarcity and upward pressure on prices, contributing to sustained bull markets in the aftermath of the halving events.

Labels

Labels:

Comments

Post a Comment

Popular posts from this blog

What is Bitcoin?

Bitcoin is a digital money that runs without any form of centralised management, bank supervision, or government regulation. Instead, it uses cryptography and peer-to-peer software. Every Bitcoin transaction is recorded in a public ledger (a database), and copies of it are stored on servers all around the world. These servers, referred to as a nodes, can be installed by anyone who has a computer. Instead of relying on a single point of trust, such as a bank, these nodes cryptographically agree on who owns the coins. This process is called consensus.  Every transaction is shared across nodes and broadcasted to the network publicly.  These transactions are then collected by miners into a group called a block. This block is then added permanently to the blockchain every circa 10 minutes. Data in a blockchain is also referred to immutable.  Click here to claim $10 of Bitcoin from Coinbase
Post a Comment
Read more

Credit and Debit Cards, A Necessary Evil.

Credit cards can be a useful financial tool for some people, but they are not necessary for everyone. They can be a convenient way to make purchases and build credit, but they also come with risks, such as the potential for high interest charges if balances are not paid off in full each month. It's also important to weigh the pros and cons and decide if a credit card is right for you based on your financial situation and spending habits. Also, credit cards such as Visa and Mastercard also charges merchants a fee for accepting their payment card system as a form of payment. This fee is known as the "merchant discount fee" or "interchange fee," and it is a percentage of the transaction amount plus a fixed amount called the "interchange rate." The merchant discount fee is typically paid by the merchant's acquiring bank, which then passes on a portion of the fee to the merchant. Click here to get your promo code and apply for the card There are sever...
Post a Comment
Read more