Several indicators point to an ambiguous price outlook for the coming two weeks. There is still a possibility that bitcoin prices drop before the halving. But the more probable scenario would lead 2020 to resemble the year 2018.
For this analysis to be wrong i would need to see a daily close above the 200ma and 10 000 to make a higher high and invalidate the total structure. But from the current level it is possible that bitcoin in fact corrects before the halving in may. Over on coinbase the crash was slightly less severe with the.
A loss of 12 2. According to data from cryptocompare during a span of 15 minutes between 00 05 utc and 00 20 on sunday may 10 which is approximately 48 hours before bitcoin s next third halving the average price of bitcoin across the exchanges tracked by the cryptocompare index dropped from 9 483 to 8 327 i e. Bitcoin whale suggests btc price will crash halving is priced in a major bitcoin whale has implied that the upcoming halving is already priced in and btc price can crash after the reward.
The spot price dipped 11 on 10th may 2020 at 12 am utc dropping to us 8873 from the local high of us 10018. There was a us 1475 drop in the price of bitcoin just one day before the halving. After this happens bch miners will lose half the current block reward 12 5 bch and receive just 6 25 bch and fees.
The upcoming bitcoin cash halving event is expected to be during april 2020.
