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An epic Bitcoin price rise will dwarf all previous BTC bull runs in May 2020

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Last week was just murder for Bitcoin. It dropped significantly twice, and it had already gone down for more than 11 months. So there are two questions in the mind of every crypto enthusiast in the world. First, when is Bitcoin going to start recovering value again? Second, when is Bitcoin going to reach an all-time high again?

We think it unavoidable for Bitcoin to recover, and we also think it inevitable for it to reach unprecedented heights at some point in the future. When? We don’t know to be honest.

But there are cryptocurrency observers who think they do have an answer, even a date. In this article, we will explain their arguments. We can’t assure you they’re right, but information is power, so this is probably an idea everybody should know about.

We’ll start with the answer; then we give you the explanation. The next Bitcoin hyperjump will start on May 2020. It will prompt a huge and prolonged bull run that will culminate on December 2021. By then Bitcoin will be around 100k in price. Fascinating, isn’t it?

Before we give you the rationale behind that answer, we’ll give you the context you’ll need to understand it.

As you surely know, Bitcoin needs to be mined. This means that a bunch of enthusiasts all over the world (well, mainly in China) use a lot of computer power to solve a mathematical problem known as an “SHA-256 collision”.

Since it has no analytical solution, it must be calculated randomly, using a computer, and that takes time. This creates a “chain” of “blocks” (hence, “blockchain”), one at a time, and with every new block, a number of new Bitcoins are created. How many? Good question!

In the beginning, every new block created 50 new bitcoins. But Satoshi (the mythical digital superhero who created Bitcoin) wanted to avoid inflation in the Bitcoin environment, so he designed the protocol to make the total amount of tokens limited and progressively harder to mine.

One of the ways in which this goal is achieved is that, every so often, the number of coins created by every new block is halved. So, for instance, after November 28th, 2012, only 25 coins are produced per new block, and after July 9th, 12.5 coins. Next halving event is on May 2020 (you see where we’re going?).

Historically, each time that a halving has been implemented, the Bitcoin prices go through the roof. It happened in 2012, then in 2016. So, many observers are utterly convinced that the next halving event, in May 2020, will also bring about an epic rise in price that will dwarf any of the previous Bitcoin bull runs.

That’s it. That’s what some aficionados are expecting, and that’s the reason supporting their expectations.

But how reliable is this? It’s really hard to say. While it could indeed be a legitimate phenomenon, the fact is that Bitcoin is too young, there have been only two halvings, and there’s not enough data (or data analysis) to guarantee that every halving is going to jumpstart Bitcoin again.

So while this is an idea every serious observer in the crypto verse should know, it should be taken with a grain of salt because, so far, it’s impossible to say it’s not merely anecdotal. Lots of things happen around Bitcoin besides halvings. Now you know, though. We hope it will become useful information to you.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image Courtesy of Pixabay.

Bitcoin

What Caused So Many Investors to Turn to Bitcoin in 2017?

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Bitcoin (BTC) has been growing increasingly popular in recent years, especially in the last two. About five weeks ago, the coin celebrated its 10th birthday, however, while it has been an entire decade of its existence, it was basically unknown to anyone who is not a particularly interested in new technologies. This all changed in 2017, when Bitcoin’s price skyrocketed from $1,000 to $20,000, making it the biggest trend of the year.

Suddenly, the entire world heard of its name, and cryptocurrencies finally got their place under the spotlight. Investors continued to arrive at the crypto space, cash was flowing, hundreds of new coins emerged, and more optimistic analysts predicted Bitcoin’s price going even higher, potentially reaching $50,000, $100,000, and more.

However, as we know today, it was not to last. 2018 was barely a few weeks in when the market crashed, the prices started dropping, and investors started selling. The profits were quickly lost for anyone who did not cash out in time, and these days, Bitcoin’s price sits at around $3,812. The crash reminded everyone that cryptocurrencies remain as volatile as ever and that they still pose a risk for investors. But, people already knew this, so why did they invest in the first place?

Chart courtesy of TradingView

Bitcoin is alluring

The first thing…

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Bitcoin

Top 5 Presidential Candidates Thoughts About Bitcoin

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The cryptocurrency space is growing larger and has more impact on our everyday life with each new year. Despite the low prices and market crashes in 2018, the situation on the market seems to be taking a turn for the better, especially after a new surge that started on February 8th. However, as we progress through another year of cryptos’ fight for survival and adoption, the 2020 US Presidential Elections continue to approach.

With that in mind, it might be worth knowing what the current major Presidential candidates think about the crypto space, and Bitcoin (BTC), in particular. Of course, no one can know who will get elected and whether the next US President will be a crypto investor or someone who will have no problems with imposing even stricter regulations that might limit the market’s potentials.

Even so, we can at least see what they had to say about the crypto industry, and form some sort of expectations regarding the future based on that. It should be noted that the list does not include every candidate, only the major ones, and those who decided to take a notable stance towards Bitcoin.

1) Cory Booker

Let’s start with the Democratic candidates, the first of which on our list is Senator Cory Booker. Unfortunately, Sen. Booker did not reveal what his thoughts are on Bitcoin and the crypto industry,…

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Why Chinese New Year Affects Bitcoin (BTC)

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Bitcoin (BTC) lost about $100 in value in the last week, and, while reasons behind the drop in crypto prices can often be hidden and unclear — this time, that is not the case. The reason for this drop is believed to be the celebration of the Chinese New Year.

The New Year celebration was over more than a month ago for most of the modern world. However, things are a bit different in China. This is a country which is considered to be one of the oldest ones in the world, with a long and complex history. The country’s traditions are fascinating to many around the world, as so many of them are different from western culture. One of these traditions is the Chinese New Year.

The New Year celebrations in China start on January 28th, which was a week ago. The New Year itself is today, February 5th, although the celebrations and festivities are going to last until February 19th. For the people of China, and all those around the world who follow the country’s tradition, this is the time to relax, take a break, and perhaps travel and visit friends and family. But, what does it have to do with Bitcoin?

China and Bitcoin

Those who are new to the world of cryptocurrencies have likely already heard many stories about China banning Bitcoin trading and…

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