Were we too optimistic for the 3rd BTC halving?

[MrSpasybo]

BTC Halving has taken place but we still haven't seen its positive effects on the crypto community. The rally only lasted a few days, currently Coinmarketcap is engulfed in the red of the downtrend. BTC was defeated at $9861, while ETH was defeated at $215.
Perhaps we were too optimistic for BTC's 3rd Halving event. I think the mission of the BTC community in 2020 is to conquer and maintain the price of $10K, while the ETH community will need to capture the price of $500 thanks to the motivation of ETH 2.0.

What's your opinion? Do you think BTC could return to the $20K price level of late 2017?

[I-Bit]

BTC Halving has taken place but we still haven't seen its positive effects on the crypto community.

IMHO, it has shown the positive effects, at least there are two effects:
(1.) The improvement in buy-order or demand on the market.
(2.) The increase in Bitcoin price and some altcoins price before halving this year.

What's your opinion? Do you think BTC could return to the $20K price level of late 2017?

It can. It is too early if we want to say, "no effects" on price. In the previous halving, we need to wait for a year before the price can surge and there is new ATH. So, we need to wait for till 2021 for the current halving.

[edmundo]

I think we need to understand that the effects of the halving wouldn't just come overnight but take a gradual process. This has been the case with previous halving and I see no reason why this one will be different. Already, the interest in cryptocurrencies and bitcoin especially, has grown even the trading of bitcoin futures on exchanges like koinpro which offers a one stop shop and exchange for bitcoin, stocks and commodities trading is reflecting the massive amount of orders leaning towards a bitcoin rally in the nearest future. This all pile up to show that the effect of halving will be felt in no distant future.

[alltalk]

~ Do you think BTC could return to the $20K price level of late 2017?

Why not? BTC should have a chance to return at $20,000. I think the real effect from current halving doesn't happen yet, it is still in progress. BTC price maybe just skyrocket after 1 year from the current halving, I agree with the statement of Mr @I-Bit above. So, we must be optimistic and patient to keep holding and wait for the next year. Bitcoin prices potentially bring a surprise in the upcoming year if we are lucky enough then.   

[Pegasus]

Actually, good things happen after halvings. Late 2020 and 2021 will be very interesting and bullish. For the record, bitcoin is testing USD 10k resistance. This is an important resistance before eying on higher ones. Regarding the ATH of USD 20k, I think it's reachable. It's just the matter of time, sooner or later.

[Alcor]

I think nothing unusual is happening. In the first few months after dividing bitcoin in half, usually there is a slight drop in the price of bitcoin due to the fact that miners need to readjust to more efficient work, and this takes a certain amount of time. Typically, the price effect of this event occurs only for one year. Currently, bitcoin already demonstrates a slow growth in this difficult time.

[sampoerna]

Actually, good things happen after halvings. Late 2020 and 2021 will be very interesting and bullish.

Does it happen already? It still doesn't happen, bro. We still bet on it to happen at the end of 2020 or 2021. Many experts also believe that the significant increase just happens after months or a year after halving day. It happened in the two previous halvings.

[Leonardo]

Does it happen already? It still doesn't happen, bro. We still bet on it to happen at the end of 2020 or 2021. Many experts also believe that the significant increase just happens after months or a year after halving day. It happened in the two previous halvings.

I can't agree more. At first, I thought pump must happen right before the halving and I was kind of disappointed when there was only a small pump. But turned out significant increase happened months later in the first two halvings. To sum up, increase is inevitable. The only thing that matters is when. Good news is we still have time to trade and accumulate a little more bitcoin.

[masterrex]

BTC Halving has taken place but we still haven't seen its positive effects on the crypto community. The rally only lasted a few days, currently Coinmarketcap is engulfed in the red of the downtrend. BTC was defeated at $9861, while ETH was defeated at $215.
Perhaps we were too optimistic for BTC's 3rd Halving event. I think the mission of the BTC community in 2020 is to conquer and maintain the price of $10K, while the ETH community will need to capture the price of $500 thanks to the motivation of ETH 2.0.

What's your opinion? Do you think BTC could return to the $20K price level of late 2017?

At first, I was not convinced that the third bitcoin halving will influence the market trend, you know why because it's just pure speculation without economic sense, the miners are already struggling to break even when the BTC price was down in $7000 level what about now that the reward per block was reduced to 6.25 BTC with the same resources needed. Others say that the scarcity of supply will make Bitcoin more expensive, I don't think so! the truth is if the BTC will be more expensive the more investors will avoid it.

[Luckyperson21]

Based on the chart on coinmarketcap, the increase in BTC does not occur as fast as after BTC halving. Price increases will occur 1 year after BTC halving. So we will see for the next year. During that time, it's better to focus on trading rather than thinking about the price of bitcoin. Altcoin season makes me profit a lot.

[MrSpasybo]

At first, I was not convinced that the third bitcoin halving will influence the market trend, you know why because it's just pure speculation without economic sense, the miners are already struggling to break even when the BTC price was down in $7000 level what about now that the reward per block was reduced to 6.25 BTC with the same resources needed. Others say that the scarcity of supply will make Bitcoin more expensive, I don't think so! the truth is if the BTC will be more expensive the more investors will avoid it.

I think halving is one of the most important elements of Bitcoin so that owning BTC is really valuable. If BTC is officially accepted & its price is guaranteed by halving, BTC is perfectly capable of becoming a tool to store assets or pay high value. Even on a higher level, we can even use the smallest unit of BTC, a satoshi, for micro payments in daily consumption.
Thus Halving is necessary and valuable. However, its impact on the whole market is not as great as I expected.

[I-Bit]

-snip- If BTC is officially accepted & its price is guaranteed by halving, BTC is perfectly capable of becoming a tool to store assets or pay high value. -snip-

Accepted? Do you mean "adopted"? If it can be adopted massively, I agree that the price should increase higher and higher as people trust in the future of Bitcoin. But if it is not, halving still can make BTC rise up because people follow FOMO of the positive trend after halving day.

[Senin]

After halving the rewards, miners should not hope for a quick price effect from this event. Therefore, it is too early to say that our hopes for a rise in the price of bitcoin have not come true. All this is yet to come, maybe even next year.

[trauchot]

This year, Bitcoin has grown from 3k$ to 10k$ and that’s not bad, of course, I want to see Bitcoin growing faster, I think that the next good Bitcoin growth and growth of the entire cryptocurrency market will be at the end of 2020.

[Seerge]

It is not impossible that the price of Bitcoin can return to 2017, which is $ 20,000.  But somehow I'm not optimistic that this will happen this year, the price of Bitcoin feels very heavy to go up.  It has been proven that after Bitcoin Halving happened some time ago, it was unable to make optimal changes despite an instantaneous increase, but eventually dropped again.