Santa’s chances of dealing with Bitcoin at the end of the year are slowing. The semi-annual trend is ongoing and does not seem incurable until it reaches age. All hope is that BTC will be discontinued next May, but is it really the reincarnation that everyone wants?
Again Bitcoin’s Bitcoin
Two hours ago, Bitcoin crashed through a three-day consolidation channel, hitting $ 7,100, according to Tradingview.com. At the time of writing, trading was above this level, but was ready to fall again in the high $ 6,000 range. The move marks a 3% loss per day.
Over the weekend, bitcoin lost nearly 8% and the downtrend strengthened. Analysts now agree that $ 6 million is the next level to settle the issue for a while and it’s likely the end of the year.
That leaves all hope for a BTC crossing event, which is calculated on May 14. Sequence factors will be dropped, which include a reduced amount of additional currencies in the overall supply, increasing the idea of scarcity.
Since block remuneration falls from 12.5 to 6.25 BTC, asset inflation is also below 2% of the central bank’s target. Bitcoin inflation will be 1.8% and 18 million, or 86%, already reduced, so the concept of scarcity should lead to demand.
Previous delays in 2012 and 2016 raised bitcoin prices after the incident, before that. As industry analyst PlanB points out, it didn’t take a year to grow the market.
“Well, you didn’t watch yourself: the plan stops when the sky goes red;
@ $ 100 trillion
Some ask why the previous half (November 2012 and July 2016) took more than a year for the market to start growing.
Doesn’t stop well: Stops in the chart as the sky turns red: the market immediately rises to two after halftime
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If history falls, then markets should start to pick up in mid-2020. The analyst added that growth in 2016-2017 was slower as Altcoins and ICOs stole the thunderstorm, but that won’t happen in 2020.
Currently, the dominance of the Bitcoin market is only less than 70% and this year it has grown by 30% as the Altcoins ease.
Another key factor to consider is the inventory flow model that determines the relationship between production and share in circulation. It doubles after half time, which is very important as there is no inflated capability in stocks.
The general scene is very volatile at this moment, which is why many believe lowering prices will not make much of an impact. However, history has proven otherwise, and digital assets are fundamentally stronger than previously thought. Only time will tell if the previous templates are still playing.