When is Bitcoin halving?

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Bitcoin Halving Soon! Time to Buy?

Many people have anticipated the halving event as a time when the price of Bitcoin will skyrocket, especially people who had "stuck" and still survive (HODL) until now. The hope with halving, the price of bitcoin can reach ATH at the end of 2017, almost 20,000 USD, even more.

But, is it true that halving makes bitcoin prices go up right away? Are we wise if we immediately buy up bitcoin now? To find out the answer, let's analyze one by one, starting from the historical, fundamental, to technical.

When is Bitcoin halving?

History of Price Movements When Bitcoin Halving

Judging from its history, halving did make the price of Bitcoin rise spectacularly.

The first halving on November 28, 2012, made the price of Bitcoin go up by more than 9000%. Whereas in the second halving in June 2016, the price of bitcoin rose nearly 3000% thanks to Halving.

At first glance, halving gives us the impression that the price of Bitcoin will rise due to reduced mining rewards, making supply less, demand remains / increases, so that on an economic basis, prices will rise. However, whether it will be so?

We need to know and examine, that the price increase after halving does not just happen. After halving in 2012, it took more than 1 year for bitcoin to achieve a fantastic increase.

Whereas in 2016, it takes 500 days before the price of bitcoin reaches its ATH.

In fact, we can find something unique if we look at the price action of bitcoin when we are close to halving.

When the first halving is finished (November 2012), we can see that the price is actually still and tends to go down for several weeks (watch the blue area), before it rises fantastically.

Similarly, the second halving in 2016, Pay attention to the blue area where the price of the BTC actually dropped for the first few weeks before he rose

Did not rule out the possibility that the price of bitcoin after the third halving (estimated 20 May 2020) will experience the same movement: down or tend to be silent for several weeks, then go up quite far.

If we are not careful and as long as we buy bitcoin in the hope that it will rise during halving, then it can be a problem in our emotions because expectations are too high, or worse, we can lose money.

Why Can After Halving Price Even Down?

It is true that halving makes rewards as supply from bitcoin go down. But the factors to consider are the miners.

Because of their rewards or rewards in the form of bitcoin decline, they will not be as profitable as before, especially with the same electricity price.

Therefore, after halving occurs, the miners will likely "rest" or slow down first. We also need to consider small miners who can lose, even go bankrupt because the reduction in rewards from halving is not worth the cost of using electricity and their equipment is exorbitant. This makes the bitcoin network activity faltered.

Only later after a while, the miners will start to rise again, start bitcoin prices rise again as in the previous halving-halving.

Then, Where to Bitcoin Prices Ahead and After Halving in 2020?

The author tries to provide an analysis using technical analysis. At the moment, bitcoin is heading towards the retest area of ​​the falling wedge pattern which broke through last January 2020.

It is possible that bitcoin can go down to the green area (the zone between 6800-7500) before continuing the increase.

Depending on how fast the price of bitcoin moves, the decline to the green zone could have just happened after halving. Prices can also go up before halving, then go down to the area under the green zone.

Basically we still have plenty of time before halving, there are still more than 70 days left per writing this article. Prices can still go up or down.

How to invest in Bitcoin Towards Halving ?!

Basically, if you want to invest, don't be greedy and understand the risks. As a good investor or trader, keep an eye on price movements and make sure to enter in the right and good entry. Don't just put all the money into crypto.

Hopefully, with this halving bitcoin, we all profit a lot in cryptocurrency!