The bitcoin community has now turned to what s next for the world s number one. Bitcoin successfully went through its third halving yesterday seeing the daily supply of new bitcoin cut by half. The orange line is bitcoin s inflation rate during a given period while the blue line is the total number of bitcoins issued.
Each halving lowers bitcoin s inflation rate. Bitcoin halving chart in the image below you can see bitcoin s inflation rate during each period. Courtesy of chartsbtc on twitter this logarithmic chart shows bitcoin s price against halvings.
One of the best ways to gauge what effect the new halving will have on price is to look at a price chart with all previous halvings demarcated. Bitcoin halving chart with dates. The bullish scenario will play out when bitcoin takes out the huge resistance between 10 350 and 10 500 you can watch in my chart with a stabilization above it and the bearish scenario will play out when the lower boundary has crossed with heavy volume and momentum to the downside when this shows up it will be a good entry for trading the higher low with a short position to the downside.
The halving cycles consist of two periods firstly it is the accumulation consolidation period where large interest begins to settle in bitcoin and cryptocurrencies and buying large sums of the individual currency before the public begins to enter. That is in the same timeframe we are in now gearing up for the third bitcoin mining halving event. The summarizes into bitcoin bull market price action lasted a full 24 months or two years long.
Bitcoin declined in value by 83 then accumulated at 200 300 for 10 months. Post bull market cycle.
