Bitcoin to Top $14,000 Before May, If History Repeats

[cheezcarls]

The 2020 Bitcoin halving is fast approaching. Historically, the cryptocurrency has rallied to new local highs prior to the event and new all-time highs just after it.

After the halving, the supply of new Bitcoin released to miners every ten minutes will be cut in two. The 12.5 BTC rewarded with each block added to the blockchain will become 6.25. The event occurs every 210,000 blocks or about every four years. It will continue until the network has issued a total of 21,000,000 Bitcoin. There have been two prior halvings to date – one in 2012 and one in 2016.

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