The Daily Hodl
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
The Daily Hodl
No Result
View All Result

Crypto Traders Should Brace for Bitcoin (BTC) Drop Ahead of Halving, According to Two Top Analysts

by Daily Hodl Staff
February 24, 2020
in Bitcoin

Despite the hype, a pair of widely-followed crypto analysts say the price of Bitcoin (BTC) may drop as the halving approaches.

Trader and technical analyst Rekt Capital says the king of crypto has a tendency to correct prior to the halving event that will cut the number of Bitcoin generated in every block in half as BTC creeps toward its finite supply of 21 million coins.

At time of publishing, there are about 78 days until the next halving. According to Rekt Capital, in the 100 days before Bitcoin’s first halving, the cryptocurrency plunged 50%. In the run up to the second halving, it dropped 38%.

“There has always been a pre-Halving retrace (i.e. ‘shake-out’). This pre-Halving retrace has been a Bear Trap for many investors in the past.

Many investors would sell their Bitcoin to book their profits whereas others would sell in fear of a strong downtrend and get shaken out of their investments. In any case, both types of investors would miss out on the future exponential uptrends.”

Fellow analyst Joseph Young shares Rekt Capital’s view on the pre-halving retrace. He expects miners that earn BTC for powering the network to sell BTC in the run up to the event.

Wouldn't it make more sense for bitcoin to drop before the halving rather than after?

After the halving, miners produce less BTC. It would be best to sell BTC before halving, finance operations for 12+ months, rather than gambling BTC price will skyrocket to breakeven price.

— Joseph Young (@iamjosephyoung) February 23, 2020

Post-halving predictions are rolling in and vary widely, depending on the source.

Analyst Peter Brandt says Bitcoin appears to be at the start of a long-term parabolic trend that could bring BTC to $100,000. Tone Vays is more conservative, predicting a rally that brings BTC to around $45,000.

Meanwhile, the chief strategy officer of CoinShares, Meltem Demirors, says institutionalization of BTC could prevent a parabolic post-halving rally altogether.

Check Latest News Headlines


 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Submit a Press Release

Industry Announcements

  • Bunzz Raises $4.5 Million Seed Round To Expand Its Smart Contract Hub for DApp Development
    January 24, 2023
  • Dogecoin and Shiba Inu Better Watch Out – Floki Just Had Three Big Things Happen for It
    January 24, 2023
  • Crypto Marketing – What Initiatives Will Bring More Value and Users in 2023
    January 23, 2023
  • Make Crypto Payments on BChat Web 3.0 Messenger – BChat Integrates Beldex Wallet
    January 22, 2023
  • KEY3.id Supports Multi-Chain Transaction, Partnership With KuCoin Wallet, CoinHub Wallet and Wallet3 To Launch 2023 Lucky Transaction Campaign With Over 30,000 Participants on Social
    January 20, 2023
  • Deposit EUR/GBP at Zero Percent Fees With Newly Launched SEPA/FPS Channels on Bitget
    January 19, 2023
  • Coinbase Lists Kava, Advancing Ethereum–Cosmos Interoperability
    January 18, 2023
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$23,007.16
$23,007.16
0.27%
Ethereum
$1,570.26
$1,570.26
1.74%
Cardano
$0.381781
$0.381781
1.9%
XRP
$0.409098
$0.409098
1.02%
Dogecoin
$0.087837
$0.087837
0.84%

Spotlight

  • Miami Mayor Is Still Receiving Bitcoin Paychecks, Says His Salary ‘Is Actually Up’ Despite Ongoing Crypto Winter
    January 21, 2023
  • Largest Crypto Hedge Fund in the World Says DeFi Will Drive the Next Crypto Bull Market
    January 24, 2023
  • Billionaire Dogecoin Advocate Elon Musk Doubles Down on Offer To Eat Happy Meal on TV if McDonald’s Accepts DOGE
    January 27, 2023
  • Crypto Strategist Who Nailed 2023 Bitcoin Rally Says Real BTC Move Is Yet To Come – Here Are His Targets
    January 23, 2023
DON'T MISS A BEAT
Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options
By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.
Featured Image: Shutterstock/Billion Photos

Cryptocurrency news and analysis, covering Bitcoin, Ethereum, Ripple, XRP, altcoins and blockchain technology

Categories

Bitcoin • Ethereum • Trading •
Ripple and XRP • Altcoins •
Blockchain • Regulators •
Scams • Crypto101 • HodlX •
Futuremash •
Industry Announcements

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT | ADVERTISE

JOIN US ON TELEGRAM

JOIN US ON TWITTER

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2023 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX

© 2023 The Daily Hodl