Bitcoin will dump after the halvening!
Hi Guys,
I hope you all had a lovely Easter & some enjoyed the time off with your family 🤞
I believe Bitcoin will continue to respect this Long-Term descending parallel channel, in addition to the 50MA. We have previously seen a death-cross and I believe we have entered into a bearish cycle until June 21st. I believe we will see lows of 3k around June 21st.
I predicted the downfall of the rally to my 'close' followers, please see:
What is Bitcoins Halvening?
Bitcoin is a deflationary Currency - As Bitcoin is a non-fungible token (NFT) unlike FIAT currency. It cannot be manipulated & overtime the inflation rate is reduced. In-fact, every 210,000 blocks, approximately 4 years - the reward per block is halved. This is Satoshi Nakamoto (pseudonymous creator of Bitcoin ) ideology to managing inflation .
Currently, the reward for mining a block is 12.5BTC; in May this will be reduced to 6.25BTC. At present, the annualized rate of "inflation" is approximately 3.75%; with an average of 144 blocks mined per day, at 12.5 BTC each, yielding approximately 1,800 new BTC each day. Post May 2020. Bitcoins inflation rate will be 1.875%. A
Ok let's study some halvening dates:
Bitcoin Cash Halvening:
Bitcoins 2nd Halvening:
Yes we may be bullish long-term after the halving dates, but don't get caught in the dump after it!
All the best,
Anon.
I hope you all had a lovely Easter & some enjoyed the time off with your family 🤞
I believe Bitcoin will continue to respect this Long-Term descending parallel channel, in addition to the 50MA. We have previously seen a death-cross and I believe we have entered into a bearish cycle until June 21st. I believe we will see lows of 3k around June 21st.
I predicted the downfall of the rally to my 'close' followers, please see:
What is Bitcoins Halvening?
Bitcoin is a deflationary Currency - As Bitcoin is a non-fungible token (NFT) unlike FIAT currency. It cannot be manipulated & overtime the inflation rate is reduced. In-fact, every 210,000 blocks, approximately 4 years - the reward per block is halved. This is Satoshi Nakamoto (pseudonymous creator of Bitcoin ) ideology to managing inflation .
Currently, the reward for mining a block is 12.5BTC; in May this will be reduced to 6.25BTC. At present, the annualized rate of "inflation" is approximately 3.75%; with an average of 144 blocks mined per day, at 12.5 BTC each, yielding approximately 1,800 new BTC each day. Post May 2020. Bitcoins inflation rate will be 1.875%. A
Ok let's study some halvening dates:
Bitcoin Cash Halvening:
Bitcoins 2nd Halvening:
Yes we may be bullish long-term after the halving dates, but don't get caught in the dump after it!
All the best,
Anon.
Penafian
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