What do you think the price of Bitcoin is going to do post halving?
Bitcoin is now merely days away from its next block reward halving...
Which is scheduled to take place in a little over 4 days on May 12th (depending on where you live).
https://www.bitcoinblockhalf.com/
How do you think that will impact its price?
According to a recent poll on Twitter, roughly half of 12k+ participants think bitcoin is going to dip:
(Source: ~~~ embed:1257476604235862016) twitter metadata:Q3J5cHRvRG9uQWx0fHxodHRwczovL3R3aXR0ZXIuY29tL0NyeXB0b0RvbkFsdC9zdGF0dXMvMTI1NzQ3NjYwNDIzNTg2MjAxNil8 ~~~
What do you think is going to happen?
Share your thoughts below and I will give out some upvotes to those that share their thought as well as why they think that will happen...
Let me know your thoughts!
Stay informed my friends.
-Doc
Dump first, then bounce back up like a spring.
Why?
Because due to decrease of block rewards, some miners will cash out more than before the halving... After they have enough cash, it will go up so miners don't need to cash out even more and avoid flooding the markets with too many coins...
Nicely said.
I have my bright moments ;)
It’s going to dip, consolidate, then prepare for the next leg up. I think there’s too many people waiting for it to dip after the halving that it’s not going to dip as much as people think.
What do you mean here?
I could see that as well. A drop to $8k seems perfectly reasonable to me given how far and fast prices have moved up in the last month.
No one can be sure Doc, but if it Bitcoin dumps it doesn't look like it's gonna stay down there forever or go to zero. Bitcoin sunk pretty low last year but never bottomed out. Mining difficulties should make the coin even more rare so if there is any real demand it should make it through.
I had a plan to cash out half when it got to 10,000 USD per one bitcoin and wait and then buy again at a lower price. But I'm just going to HODL. It may drop to 7,000 or even more. I'm not in the mood to sell.
well everyone seem to be thinking that it will create new high all of a sudden there should be a correction that will keep those fomo people away for a bit i think
Dump
Why?
someone who bought for $ 6,000 will sell to buy goods to live on because of the coronavirus
It's certainly possible.
Considering the last halving four years ago. It is going to dump and after a while pump massively.
Based on what I have heard and seen from the past, I would expect a shorter downturn before a long-term up, but I can't help but often think Bitcoin likes to go the opposite of assumptions, and something does feel different this time around, so seeing 25% of people say "pump" tempts me to say "pump" :-)
Also, something fishy is possibly up with Tether and Bitcoin prices it seems (some say)... so it is hard to know if this current pump up is legit.
Fall to 7k-8k then again pump🚀
Why?
Dump 20% in a spectacular swan dive.
Why?
Just when we think we know and we're ready;
It'll do the opposite of what people expecting.
Posted Using LeoFinance
Which means?
Fall to $6500 I hope
Why do you think that?
I wrote an article that essentially answers this question based on my research.
https://esteem.app/cryptocurrency/@kushfreeman/how-can-bitcoin-halving-be-expected-to-impact-the-bitcoin-market
Well, I'm a couple of days late to this post, but hey, it hasn't Halved yet, so... :-)
To be honest, the closer we get to Halving, the less certain I am. It looks like this Halving seems to be setting up to be different from the last ones. For starters, we've got more attention onto Bitcoin (and cryptocurrencies in general ), with everyone from the average Joe, and big hedge fund managers getting into that Bitcoin craze. I'm sure there'll be a post-Halving rally, not immediately, but eventually and gradually it'll go upwards. Will we see a post-Halving dip, or maybe Bitcoin will start mooning as soon as it's Halved, I'm not sure any more...