Skip to content

Bitcoin enters final phase before halving; Everything you need to know

Bitcoin enters final phase before halving; Everything you need to know

With less than one year left before the next Bitcoin (BTC) halving, when the current reward for mining the flagship decentralized finance (DeFi) asset further cuts in half, historical chart patterns indicate optimism could be in order for Bitcoin investors.

Notably, Bitcoin has gone through a halving event three times in its history – in November 2012, July 2016, and May 2020, and price increases have accompanied each of them, according to the data shared by cryptocurrency expert Trader Tardigrade on May 31.

“Bitcoin has entered the final phase before the next halving. This phase is ‘UP-ONLY’ phase, which was test 3 times in $BTC history.”

Halving patterns

Indeed, steady price climbs have both preceded and followed previous Bitcoin halvings, with the exception of a brief decline in 2020 caused by the Covid-19 pandemic but a recovery later on. If history repeats itself this time around, the analyst expects a price of about $50,000 around the halving event itself.

After the halving, the maiden crypto asset should proceed with a further upward continuation in the following years, potentially even reaching the price of $200,000 in 2025, as the expert’s chart analysis indicates.

Bitcoin chart pattern around halvings. Source: Trader Tardigrade

At the same time, crypto market research platform Delphi Digital also posted a chart demonstrating the digital asset’s historical price action and block rewards side by side since July 2010, stating that “Bitcoin halvening events have historically signaled a substantial increase in the price of Bitcoin.”

Bitcoin’s price cycle. Source: Delphi Digital

Bitcoin price analysis

As things stand, Bitcoin is currently changing hands at the price of $26,967, recording a decline of 2.67% in the last 24 hours and 5.48% over the previous 30 days but still demonstrating a 2.05% increase on its weekly chart, as the recent data shows.

Bitcoin 7-day price chart. Source: Finbold

Earlier, the coin had achieved its first-ever golden cross between the moving average (MA) on 20 observed time periods and that of the 200 periods, a bullish sign that should have led to a significant price gain, according to the crypto analyst Moustache, but the rally has not yet occurred.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

Best Crypto Exchange for Intermediate Traders and Investors

  • Invest in cryptocurrencies and 3,000+ other assets including stocks and precious metals.

  • 0% commission on stocks - buy in bulk or just a fraction from as little as $10. Other fees apply. For more information, visit etoro.com/trading/fees.

  • Copy top-performing traders in real time, automatically.

  • eToro USA is registered with FINRA for securities trading.

30+ million Users
Securities trading offered by eToro USA Securities, Inc. (“the BD”), member of FINRA and SIPC. Cryptocurrency offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk, and content is provided for educational purposes only, does not imply a recommendation, and is not a guarantee of future performance. Finbold.com is not an affiliate and may be compensated if you access certain products or services offered by the MSB and/or the BD

Read Next:

Finance Digest

By subscribing you agree with Finbold T&C’s & Privacy Policy

Related posts

Sign Up

or

By submitting my information, I agree to the Privacy Policy and Terms of Service.

Already have an account? Sign In

Services

IMPORTANT NOTICE

Finbold is a news and information website. This Site may contain sponsored content, advertisements, and third-party materials, for which Finbold expressly disclaims any liability.

RISK WARNING: Cryptocurrencies are high-risk investments and you should not expect to be protected if something goes wrong. Don’t invest unless you’re prepared to lose all the money you invest. (Click here to learn more about cryptocurrency risks.)

By accessing this Site, you acknowledge that you understand these risks and that Finbold bears no responsibility for any losses, damages, or consequences resulting from your use of the Site or reliance on its content. Click here to learn more.