Although Bitcoin, the king of cryptocurrencies, is seen as volatile in its price action, it could be considered as an evolution into a sovereign financial global status. As more people understand that Bitcoin and its ecosystem are exponential technology, this scarce, deflationary, immutable, trustless, geopolitically neutral payment network is the most prominent financial innovation of a lifetime.
According to one respected analyst now stating that Bitcoin’s forthcoming halving event could compel Bitcoin towards and even surpass its previously established all-time highs. Historically Bitcoin’s halving has lead to 100% + gains and as PlanB, a popular cryptocurrency analyst explains in a recent tweet, at the time of 2012 halving when BTC was at $5, it rose to $12, which is a gain of 140%. Likewise with the 2016 Bitcoin halving which led its price from $314 to $627 which is close to a 100% surge.
By the time of the next halving which is in 9 months and assuming that history repeats itself, it’s a real possibility and fair to assume the 2020 halving will lead to a price surge of a corresponding volume. This means given the current price of $10,100, BTC could well be trading anywhere between $20,200 and $24,240 in nine months' time.
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