Why Bitcoin May Not Skyrocket Immediately After Halving

History may not predict the future, and correlation does not prove causation. Here are just 2 charts around the previous #bitcoin halving. Watch what happens AFTER halving. Markets are inefficient, at least, historically. Just data, draw your own conclusions. pic.twitter.com/AwChmAGvrK — CZ Binance (@cz_binance) February 23, 2020

Markets did indeed remain flat for several months following the first halving in 2012. Only in 2013 did they start to run with an epic gain of around 8000% from $13 to over $900. A bear market followed in 2014 then momentum started to build the following year in the lead up to the 2016 halving. Following that one there was very little activity until 2017 when momentum started building again and bitcoin surged from around $1,000 to over $20,000. 2018 was a bear market and 2019 saw slow growth which has continued into this year. If history rhymes BTC could retreat back to the $6-$8k area for the rest of 2020 before skyrocketing to a new all-time high in 2021. Based on these charts it would be fair to say that bitcoin halving events induce bullish markets the year before and the year after but not the year of the event. We could be in for a wild ride in 2021 but do not hold your breath for a massive rally for the rest of this year. Will bitcoin trade flat after the halving? Add your price predictions below

source: https://bitcoinist.com/why-bitcoin-may-not-skyrocket-immediately-after-halving/

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