Dmc123dmc (OP)
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Time is the one thing you can't run from
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May 01, 2016, 11:13:16 AM |
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I wasn't around for the previous halving.
What happened to the price of bitcoin at the halving and can that be used to gauge this upcoming halving?
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According to NIST and ECRYPT II, the cryptographic algorithms used in
Bitcoin are expected to be strong until at least 2030. (After that, it
will not be too difficult to transition to different algorithms.)
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BitcoinSupremo
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May 01, 2016, 11:21:08 AM |
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It didn't have a huge upward trend in 2012 after the halving, but after sometime, almost 1 year from halving then, it got up to 1000 USD as a price.
But answering your questions, now you cannot have that as a gauge to judge this halving, as many things are different now. If the price doesn't go up significantly after this halving many miners will have to shut down and that is not a good thing.
Realistic view should be price of BTC in the range of 500-750 USD after the halving but this is just a prediction, because this cannot be truly be predicted, all we have to do is wait and see.
PS. Keeping your bitcoin is a very good idea until then.
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calkob
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May 01, 2016, 11:22:12 AM |
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i THINK THE CONDITIONS FOR BITCOIN ARE FAR DIFFERENT NOW COMPARED TO THE LAST TIME THERE WAS A HALVING
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pawel7777
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May 01, 2016, 11:51:34 AM |
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Bitcoin didn't break into mainstream back then, and its value was around $12, so looking at the 2012 halving to predict what will happen after the upcoming one is probably pointless.
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MedaR
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May 01, 2016, 01:03:51 PM |
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Predictions based on previous events are very inaccurate, and can lead you to losing of money. They can be used only as example for further analysis, but those days situation were different than today..Or our situation soon can be changed within minutes..Be careful!
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traderbit
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May 01, 2016, 01:12:40 PM |
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When the last halving was made there wasn't a high pump as it was expected but from the picture below we can see that the real pump was after 6 month of halving when the price was really high:  |
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maku
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May 01, 2016, 01:15:15 PM |
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So we can easly assume that Halving has little to do with real price rise after 1st reward drop. As 6 months is a little too much time to link halving with that pump.
The question is: will this situation repeat itself after 2nd halving?
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n0ne
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May 01, 2016, 01:29:56 PM |
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i THINK THE CONDITIONS FOR BITCOIN ARE FAR DIFFERENT NOW COMPARED TO THE LAST TIME THERE WAS A HALVING
This time the scenario is exactly different as the price difference during past halving and this time is very large. This time if the same effect as past halving happens bitcoin goes mainstream. |
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mindrust
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May 01, 2016, 02:01:59 PM |
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It didn't have a huge upward trend in 2012 after the halving, but after sometime, almost 1 year from halving then, it got up to 1000 USD as a price.
But answering your questions, now you cannot have that as a gauge to judge this halving, as many things are different now. If the price doesn't go up significantly after this halving many miners will have to shut down and that is not a good thing.
Realistic view should be price of BTC in the range of 500-750 USD after the halving but this is just a prediction, because this cannot be truly be predicted, all we have to do is wait and see.
PS. Keeping your bitcoin is a very good idea until then.
That 1000USD thing had nothing to do with the halving. It was a scam of Mt.Gox (a scam exchange company which is long gone) and they were raising the price unnaturally. |
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senyorito123
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May 01, 2016, 02:02:09 PM |
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So we can easly assume that Halving has little to do with real price rise after 1st reward drop. As 6 months is a little too much time to link halving with that pump.
The question is: will this situation repeat itself after 2nd halving?
For past bitcoin halving it has great effect on bitcoin becaise it has great effect to currents price halving charts tells that past halviNg make the price of bitcoin soar high and i hope it soar high again for this halving event again. |
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Kprawn
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May 01, 2016, 02:15:14 PM |
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You cannot compare the previous Halving event to where we are now... The coins has been distributed a lot more, and this will make things a little bit more complex. I would rather see something else happen this time around... We will see a price increase building up to the Halving event, because of all the hype and at it's peak, it will suddenly decline massively.... Why, because a lot of people are waiting for this event and once the price climb high enough... people will start selling and the bots will go in overdrive. The downward trend will be fast... and people will be disappointed, if they were buying to speculate and the price will drop and they missed out on selling before it dropped. As usual the speculators will blame Bitcoin for their stupidity.  |
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Amph
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May 01, 2016, 02:32:47 PM |
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When the last halving was made there wasn't a high pump as it was expected but from the picture below we can see that the real pump was after 6 month of halving when the price was really high: you can also put it in another perspective, the pump happened before the halving, it was around $4 6 months before and then it went to $12, so 3x increase in my book |
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Hazir
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★Nitrogensports.eu★
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May 01, 2016, 02:36:39 PM |
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you can also put it in another perspective, the pump happened before the halving, it was around $4 6 months before and then it went to $12, so 3x increase in my book
Which is not happening right now. There is no sudden moves and price spikes (-+$50 price fluctuation is standard in my book). We have pretty stable BTC price despite halving in only 10 weeks from now. Maybe it is because there is already more than 15 millions of BTC mined? |
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traderbit
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May 01, 2016, 02:41:37 PM |
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When the last halving was made there wasn't a high pump as it was expected but from the picture below we can see that the real pump was after 6 month of halving when the price was really high:
[img ]https://www.deepdotweb.com/wp-content/uploads/2016/01/4.png[/img]
you can also put it in another perspective, the pump happened before the halving, it was around $4 6 months before and then it went to $12, so 3x increase in my book Well it was another time at that time, but nowadays the pump don't know if it started (considering that it was at 200s and 300s before) but i expect that before the halving there will be a panic buying situation so the price of course will be increased. |
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raphma
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May 01, 2016, 02:57:58 PM |
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you can also put it in another perspective, the pump happened before the halving, it was around $4 6 months before and then it went to $12, so 3x increase in my book
Which is not happening right now. There is no sudden moves and price spikes (-+$50 price fluctuation is standard in my book). We have pretty stable BTC price despite halving in only 10 weeks from now. Maybe it is because there is already more than 15 millions of BTC mined? It isn't 3x times increase, but 30 usd in a month doesnt seem stable to me... |
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Z00
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May 01, 2016, 03:08:09 PM |
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It didn't have a huge upward trend in 2012 after the halving...
I depends on the perspective. When you look back one year ago where the price was around 40% of the current price then there was a good upward trend. Halving is one factor for sure. |
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actmyname
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Spear the bees
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May 01, 2016, 03:11:37 PM |
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It didn't have a huge upward trend in 2012 after the halving...
I depends on the perspective. When you look back one year ago where the price was around 40% of the current price then there was a good upward trend. Halving is one factor for sure. Then you can do that to every price increase of bitcoin, and slap a halving sticker on it. "Oh, this price increase was due to the halving that would occur in 3 years." No. It may have played a very small part of it. I don't expect the halving to have as large of a price increase as people are [stupidly] suggesting. The price will not double. A majority of the community seems to [though it could just be sig-spam] suggest that the halving would have an inverse effect on the price [giving way to supply & demand] though it's not really halving the supply. |
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Amph
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May 01, 2016, 05:19:10 PM |
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you can also put it in another perspective, the pump happened before the halving, it was around $4 6 months before and then it went to $12, so 3x increase in my book
Which is not happening right now. There is no sudden moves and price spikes (-+$50 price fluctuation is standard in my book). We have pretty stable BTC price despite halving in only 10 weeks from now. Maybe it is because there is already more than 15 millions of BTC mined? yes, i think it's because of that reason too, when there was the first halving, the amount of coins in circulation was tiny in comparison to what we have now so it was easy to manipulate, that's why in the past there was that huge pump of 25x |
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gtglener
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May 01, 2016, 05:23:54 PM |
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At that having the price of bitcoin reach to a much height and everyone was happy with that as all of them who have bitcoin earn multiple X with their coins the other point at that was when a price increased was seen a number of people started to adopt it and the price increased more higher, At the halving of 2016 the price rising is expected but only if people feel interest in it and the other people who are not aware with it start to adopt it.
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RealBitcoin
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May 01, 2016, 05:53:37 PM |
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I wasn't around for the previous halving.
What happened to the price of bitcoin at the halving and can that be used to gauge this upcoming halving?
Pretty much nothing but just right after the price went up really big, but it probably had nothing to do with it because bitcoin inflation wasnt a matter at that point. Now it is, so the current halving will have more impact on bitcoin, and we can see a rally after this as well. |
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