Bitcoin is very flexible in nature. Studying the pattern of bitcoin price fluctuation is hard still follows a particular graph that can ensure a price increase. Now the question is, how do you know the price is going to increase? Past action is a reflection of the future. So if you can keep track of the previous graph, then you will understand the price movement.
As halving is similar to bitcoin’s cost, it will also have an impact. Experts predict that the demand will rise and that the acceptance of Bitcoin will also increase. How far can the price go because of the scarcity? Prediction is about $60,000 or $100,000 etc by the end of 2020. But there is a possibility that results may have a negative impact on bitcoin prices. The current Bitcoin price is less than $10,000 for one month. The cost of the bitcoin hasn’t worked out well for the last few months. The situation is getting worse as the price dropped to $6,640 after it didn’t wake up to $8,000.
Now the end of the year is close, and according to bitcoin’s halfway timetable, it’s only five months to get the price going? Many expected the bull to run inside the bitcoin area, and some say it won’t affect the price of the cryptocurrency. But if you’ve carefully studied the pattern, then you can see how the price went up whenever bitcoin’s reward volume was lowered.
Every four years, bitcoin sees a price hike due to halving, but it’s still going to happen again? Only 162 days remain and anyone can assume that the price will rise. Yet bitcoin is an unpredictable property. No one can foresee what the future of Bitcoin will be.
The pattern of the previous halving also indicates the price drop of the bitcoin. So, would we expect the bitcoin to follow the pattern and to be expected to rise again? The essence and all the technical data suggest that the year 2020 will be the year of bitcoin. Huge investments are made in action due to the halving.
The other reason apart from halving is the end of the year. For bitcoin, the staring of the year always brings good news. The following chart shows how the value of Bitcoin rose from the start and crossed the $10,000 board. This year’s update was really a blessing for the bitcoin which pushed the price from $3,300 to $13,000. The bull run was actually giving the shareholders a benefit.
The design of the graph was the same in the year 2017. The value of the bitcoin showed only the positive sequence. The year started with less than $1000 and reached the highest price ever at $19,939. After that, Bitcoin never witnessed the quality. Can we expect another Bull run from the start of the year? Well, the way the price of Bitcoin moves, it could be possible that the prediction will fall to the perfect place.
This happened at the end of the year, and the domain remained above $10,000 until the first half of the year. The value is now struggling to reach nearly $10,000.
Rather than a candlestick graph trend that signals the coming price boom, the activities of traders working for the mainstream bitcoin movement may be responsible. Bitcoin enthusiasts are playing on the Bitcoin network with more advanced features that will help proliferate price growth as well. Because halving is coming soon, everyone’s hopes of the bitcoin are quite strong.