BitOffer: After halving, Bitcoin likely hitting above 100k

[Cici Lee]

The currency founding block was born on January 3, 2009. Satoshi Nakamoto designs that the miners can obtain 50 BTC rewards with the packaging of one block. The number of bitcoins created about every 10 minutes which has halved every four years from 2012. Since the maximum supply of bitcoins is 21 million, halving means it will take longer for all bitcoins to circulation. But it also means there will be limited bitcoins over time. Historically, halving bitcoin has proven to be an important catalyst for a new bull market in the currency.





On November 28, 2012, bitcoin been halved for the first time, alongside with block awards reduced from 50 BTCS per 10 minutes to 25. The total issued amount of BTC is 21 million, with the improvement of people's cognition and consensus on Bitcoin, the scarcity of Bitcoin shows obvious after halved. While other factors in the market remain stable, the relationship between supply and demand will determine the price of goods.

In 2012, before the halving, the price of Bitcoin was around $12. After November 28, the price rose to a peak of $1,175. On December 4, 2013, the price doubled by 100 times and set an all-time high for Bitcoin at that time. This has helped the earlier bitcoin owners to achieve wealth freedom and increased the public awareness of the value of bitcoin.

On July 9, 2016, the 420,000th bitcoin block was completed, and the block reward was halved for the second time, which reduced from 25 BTC in 10 minutes to 12.5. This halving increased the scarcity of Bitcoin and alongside with the bull market of Bitcoin again.

At the second halving, the price of bitcoin was around $660, after the halving, the price firstly experienced more than three months of backtracking, then suffered over seven months of sideways trading, eventually skyrocketed. By December 16, 2017, the price of Bitcoin reached $19,991 at its peak, a new record with an increase of nearly 30 times.

After twice time of bull markets in which bitcoin was halved, many institutions stepped into the market, countless investors saw the infinite possibilities of its future. Image how long would it take a traditional industry to multiply its capital 30 times? But in the currency circle, it only takes one year, which is why institutions and retail investors are unanimously bullish on Bitcoin, and many even use it as a tool to avoid risks.

This year marks the third time that bitcoin has halved. On May 12, the number of bitcoin block awards was reduced from 12.5 to 6.25. According to the results of the previous halving, where does, the price will go?

Through the halving, numerous investors have seen the huge business opportunity behind Bitcoin. In earlier 2020, many large organization institutions started to layout BTC. According to a recent report released by Glassnode, the number of whales that holding more than 1,000 bitcoins has increased sharply since 2016. This data reflects a strong bullish signal after Bitcoin halved for the third time.

After the first time of halving, the price of Bitcoin increased more than 100 times, and after the first time of halving, the price of Bitcoin increased more than 30 times. History doesn’t repeat itself — but it often rhymes. According to Lucian, the chief analyst at BitOffer Exchange, said that

the Bitcoin will have a bull market within a few months after the halving, with the increase of at least 10 times, that is, it is expected to break the $100,000 price.

Therefore, it is the best time to buy Bitcoin. However, rather than buying Bitcoin, it is better to trade Bitcoin ETF at BitOffer, which starts with a minimum yield of 3 times. Besides, it also includes the intelligent dynamic warehousing mechanism and the calculation of fund compound interest, with a maximum yield of 17 times. If the price of bitcoin goes up more than 10 times, the ETF will go up as much as 170 times. Without a doubt, the Bitcoin ETF is the best investment choice.

[Hugo Barbosa]

Agree, once the halving took place, the miners started to sell, so the price of BTC dropped, as their cost of production doubled for power costs. The rise in BTC prices came after a few months following the halving.

[Senin]

After the May reduction in the remuneration of miners by half, Bitcoin, of course, should significantly increase in price throughout the year. However, the fact that he can reach a price of one hundred thousand dollars, I doubt very much. It's one thing to increase the price of bitcoin to $ 1,175 after the first half in 2012. It was a relatively small amount. After the second division in 2016, bitcoin in December 2017 increased in price to $ 20,000. However, next year it fell in price to $ 6,000 and cannot rise to its price record to date.
Assessment of value in the material world has not changed. I believe that achieving a bitcoin price of one hundred thousand dollars is impossible for several reasons, precisely from the point of view of the materiality of our world. And the owners of Bitcoin themselves, because of fear of its falling price and greed, will not allow it to grow so much. Of course, time will tell. A bitcoin price of between $ 20,000 and $ 30,000 may be possible, but for how long?

[mlawson71]

Right now it is struggling to break out above $10,000. I'd rather see that first before thinking of any further rallies.

[Alcor]

Within a year after the last, May reduction in remuneration to miners by half, the price of Bitcoin should certainly increase significantly. However, I do not think that it will be up to one hundred thousand dollars. Charts and analogies regarding Bitcoin do not work very often. It would be nice not only to reach 20,000 - 25,000 dollars, but also to gain a foothold at this price for a long time. After all, the previous price record did not last long.

[H2O]

Hey guys when halving may occur? If bitcoin halving is possible then impossible to hit $100000. How can I believe bitcoin will hit 100000 from $10000.

[kent47400]

100,000 USD is very expensive and now the price of Bitcoin is around 9,000 USD and if that happens then I make sure I will have a little money to buy a house in my village.
But, everything can happen at any time because cryptocurrency can move anywhere like the waves in the ocean of the Atlantic Ocean.

Just pray if Bitcon wants to reach 100,000 USD because everything can if it has an adequate factor.

[Cici Lee]

Indeed, now we should focus on when is the next bullish. Last halving takes months to pump up, this time we could see if there is the miracle by the end of this year.

[Nostoman]

The price of bitcoin must rise. But I don’t think prices have risen even after so much halving overnight. So I can't find a reason to increase the price of bitcoin now. However, the price of bitcoin will be limited to $10,000. $1 millon is never possible. Because there are some things that cannot be accepted. However, I do not want to increase the price of bitcoin at the moment.

[Review Master]

Indeed, now we should focus on when is the next bullish. Last halving takes months to pump up, this time we could see if there is the miracle by the end of this year.

Yeah, i am also waiting for that and hope to see the bull run at the end of 2020 or start of 2021. But  bitcoin needs some minor correction to follow the previous halving pattern and need a correction which will lead the price of bitcoin in $7.5k to $8k zone, imo. As previously there was a correction of 20-30% from the halving time price and after that correction , bitcoin started it's bull run. If bitcoin follow that pattern , i won't be surprised to see bitcoin in $7.5k-$8k price zone. This is just my opinion and i might be wrong in these points.

[IyemRoker]

It can also happen easily to reach 100,000 USD because prices like that are indeed sought after by the Bitcoin miners.
I think Bitcoin miners will become rich if Bitcoin reaches 100,000 USD, and that will also increase the market capacity for Bitcoin.

It's time to Hodl Bitcoin , wait until Bitcoin reached 100.000 USD and daraaaaamm ,you will be richmaannn !

[wahyudi]

although less than half of bitcoin won't reach 100 thousand, because right now there are still a lot of small coins that continue to grow and also interest many people, so it's very unlikely if bitcoin reaches 100 thousand.

[tinakoya]

I think $100,000 is abit too optimistic but it is also possible because bitcoin can surprise us anytime if the whales want it there. It is also possible through manipulation off course but my opinion is it may touch $20,000  sooner than later.