Bitcoin on the rise post-halving
Bitcoin has been on the rise over the previous week, with in a single day positive aspects taking us into the best degree since mid-February. The May halving occasion offered us with an important incidence which has traditionally kickstarted a renewed part of upside for bitcoin.
With the price surging this week, the large query is whether or not that is the start of that subsequent bull part for bitcoin. The month-to-month chart under paints an image of earlier halving occasions and the way the price has acted round these two dates.
What is clear is that we see sturdy positive aspects within the 12-16 months previous to the halving, with that bullish development being turbo charged within the subsequent yr that follows the halving date. Final month’s halving comes off the again of a 182% rise within the earlier 15 months, replicating the form of transfer now we have seen within the lead-up to the 2016 and 2012 halvings.
With that in thoughts, we’re a possible forthcoming interval of sturdy positive aspects for bitcoin to proceed the development seen over the previous eight years.