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Bitcoin Price Could Match All Time High by Halvening in May 2020

Based on historical patterns, Bitcoin’s price could go through a narrow price range, soon before the block reward halving. BTC remains unpredictable, yet past analysis shows a certain trend.


CONVERGENCE TO S/F PATTERN COULD BE CAUSED BY REWARD HALVINGS


Bitcoin price will most probably move in the $14,000 – $20,000 price window around May 2020, based on a convergence analysis of the S/F pattern. Quant analysis by Plan B was used to chart the particular BTC price pattern, revealing a long-term convergence to a certain range. The convergence is predicted to happen due to the increasing scarcity of the BTC supply.


As of November 2019, there are less than 3 million BTC left to mine, and in a few months, the daily production of Bitcoin will be just 900 new coins. At current block time, the halving should arrive on May 15, in about 186 days.


Beyond the wild Bitcoin price rallies in the past, BTC also had periods of relative stability and slower overall growth. Focusing on the periods between reward halvings, the price of Bitcoin has been charting lower highs, but also higher lows, creating the conditions for a price locked between certain borders. Read More...

Could Bitcoin reach $20,000 again by next May?

#BTC #ATH

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