The bitcoin price which had been highly volatile in the run up to yesterday s. Bitcoin successfully went through its third halving yesterday seeing the daily supply of new bitcoin cut by half. Monthly b itcoin price chart 1m.
This will give us a proper macro perspective on the bitcoin price in july for both swing traders and investors looking to have long term market exposure. As tools for this analysis we will continue to use the daily weekly and monthly time frames. Macro analysis within the context of the global pandemic.
Projection and price of bitcoin in july 2020. Bitcoin expert nicknamed plan b suggested bitcoin price 50 000 after 2020 halving but 400 000 after 2024 halving and even three million after the 2028 halving. Bitcoin halving in 2024 the next bitcoin block halving will occur in 2024 after 840 000 blocks will be mined and the reward per block will 3 125 btc.
According to popular tradingbeast s bitcoin predictions this downtrend of bitcoin should further deepen in 2020 and the bitcoin price should on average hover around the 8 000 dollar mark. According to beadles 11 000 is a realistic target for this move. Monarch president robert beadles predicts halving fueled spike in the bitcoin price robert beadles the president of cryptocurrency wallet provider monarch expects that bitcoin will see a surge around the time of the 2020 halving.
1 btc block is mined every 10 minutes 144 blocks are mined every 24 hours 6 x 24 144. The approximate date that we have provided is a result of the following a simple equation and is nothing more than approximation. Once the 2020 bitcoin halving happens as mentioned the mining rewards will be reduced to 6 25 btc per block.
