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Author Topic: Is the upcoming Bitcoin halving triggering the rise of Bitcoin?  (Read 288 times)
DustyRah
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June 22, 2019, 06:41:09 PM
 #1

So we have Litecoin halving coming up. The media is talking about the Bitcoin halving coming up next year. That should push Bitcoin to ATH?

At the end of the day, miners need to become profitable so I think that will force the price of BTC to rise as the halvings occur. Forget 2020, I am more excited about the one in 2024 which will really reduce supply.

Any lost Bitcoins are gone forever and not replaced so that should also reduce supply over time. Scarcity will keep Bitcoin value on the rise over the long term.
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June 22, 2019, 07:03:45 PM
 #2

So we have Litecoin halving coming up. The media is talking about the Bitcoin halving coming up next year. That should push Bitcoin to ATH?

At the end of the day, miners need to become profitable so I think that will force the price of BTC to rise as the halvings occur. Forget 2020, I am more excited about the one in 2024 which will really reduce supply.

Any lost Bitcoins are gone forever and not replaced so that should also reduce supply over time. Scarcity will keep Bitcoin value on the rise over the long term.
I think bitcoin is becoming something that poor people may not be able to use it in future based on the way things are going. If we are having halving in 2020 and the market has started to react to that now that we are in 2019 it means by 2020 June bitcoin may be above $100,000. I am hearing about this reduction in supply of bitcoin by 2024 and that is going to create scarcity and bitcoin may be more than $1,000,000 then.
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June 22, 2019, 07:16:48 PM
 #3

So we have Litecoin halving coming up. The media is talking about the Bitcoin halving coming up next year. That should push Bitcoin to ATH?

Halving hype is definitely a thing. The market usually front runs the event and pumps before it happens. The recent LTC/BTC bull run is no exception.

I'm not sure if it'll mean a new ATH or not by that time. In the 2012 and 2016 halving pumps, the market topped out at 50-70% of the previous ATH. It might go higher sooner this time given how strong this bull run is, and how far away the halving still is.

Or, maybe this rally will end in a blow-off top soon and we'll range downwards for the next several months. Then the old model is still possible.

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June 22, 2019, 07:35:35 PM
 #4

So we have Litecoin halving coming up. The media is talking about the Bitcoin halving coming up next year. That should push Bitcoin to ATH?

At the end of the day, miners need to become profitable so I think that will force the price of BTC to rise as the halvings occur. Forget 2020, I am more excited about the one in 2024 which will really reduce supply.

Any lost Bitcoins are gone forever and not replaced so that should also reduce supply over time. Scarcity will keep Bitcoin value on the rise over the long term.
I think bitcoin is becoming something that poor people may not be able to use it in future based on the way things are going. If we are having halving in 2020 and the market has started to react to that now that we are in 2019 it means by 2020 June bitcoin may be above $100,000. I am hearing about this reduction in supply of bitcoin by 2024 and that is going to create scarcity and bitcoin may be more than $1,000,000 then.

Such nonsense. One bitcoin has 100 million satoshies - even the poorest of poor will be able to use and benefit from bitcoin for the forseeable future. Will a poor person be able to obtain a single bitcoin? absolutely not, a single bitcoin is out of reach of billions as I type this.
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June 22, 2019, 07:37:37 PM
 #5

Not yet, the price will rise eventually due to the halving, but historically it has always been after the halving, and in the case of the last one, took over a year to happen. So we will see rockets eventially from that as well.



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exstasie
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June 22, 2019, 07:39:37 PM
 #6

Such nonsense. One bitcoin has 100 million satoshies - even the poorest of poor will be able to use and benefit from bitcoin for the forseeable future. Will a poor person be able to obtain a single bitcoin? absolutely not, a single bitcoin is out of reach of billions as I type this.

It's incredible how quickly owning just 1 BTC is becoming unattainable for most people. What a time to be alive, and to have had the opportunity to get in near the ground floor! Still kicking myself for being bearish in 2015 and not buying all I could. Live and learn!

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June 22, 2019, 07:45:49 PM
 #7

Such nonsense. One bitcoin has 100 million satoshies - even the poorest of poor will be able to use and benefit from bitcoin for the forseeable future. Will a poor person be able to obtain a single bitcoin? absolutely not, a single bitcoin is out of reach of billions as I type this.

It's incredible how quickly owning just 1 BTC is becoming unattainable for most people. What a time to be alive, and to have had the opportunity to get in near the ground floor! Still kicking myself for being bearish in 2015 and not buying all I could. Live and learn!

Yeah, I don't know how many people in the world who have an extra $10k to invest in what is still perceived as a gamble by the average person, but the % is small. So many people living paycheck to paycheck, and that's among the most developed countries.
If someone has acquired 1 bitcoin it makes no sense to sell unless you have to. Sit on it until you are a millionaire is my advice.
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June 22, 2019, 08:46:26 PM
 #8

When you compare previous charts, you can see the Bitcoin value increased AFTER the halving, in a period of several months. If you make a forecast following the previous halvings, you can see the BTC between $80,000 to $100,000 and the crash we got is 'normal'
Too soon right now to say Bitcoin halving is the reason. This rise started on April 1 for nothing we're not aware of

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June 22, 2019, 08:59:31 PM
 #9

When you compare previous charts, you can see the Bitcoin value increased AFTER the halving, in a period of several months. If you make a forecast following the previous halvings, you can see the BTC between $80,000 to $100,000 and the crash we got is 'normal'
Too soon right now to say Bitcoin halving is the reason. This rise started on April 1 for nothing we're not aware of


Yes, this rise can't be predicted by looking at previous charts, it has no precident 1 year before halving. Something else is going on, the most likely is that people are getting smarter and investing earlier. I expect a more steady climb up with a less drastic bear market drop over the next few years compared to the last few years.
Or maybe I'm just full of shit and there is a reason for this rise that I don't know.
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June 22, 2019, 09:52:43 PM
 #10

Are you saying that people have started to accumulate bitcoin prior the the halving? If that is the case if might be the true reason for the sudden surge. However, the price increase doing look good and the pump should have expected after the block halving and not before, in my opinion.

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June 22, 2019, 11:42:05 PM
 #11

So we have Litecoin halving coming up. The media is talking about the Bitcoin halving coming up next year. That should push Bitcoin to ATH?

At the end of the day, miners need to become profitable so I think that will force the price of BTC to rise as the halvings occur. Forget 2020, I am more excited about the one in 2024 which will really reduce supply.

Any lost Bitcoins are gone forever and not replaced so that should also reduce supply over time. Scarcity will keep Bitcoin value on the rise over the long term.
Possible but its still far away but the market is already moving as it should be just like before when we do reaching up the Halving event.If it does then its better
to accumulate more bitcoins as much as we can but still it do needs risk management with your funds because we wont know on what would happen next.

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June 23, 2019, 04:05:46 AM
 #12

historically the rises that happened in the past because of bitcoin halving has only happened about 1 or 2 months before the halving and anything else before that is just the same rises that we have all year long without being directly connected to halving. so no this rise has nothing to do with bitcoin halving which is going to take place in nearly a year from now. and litecoin halving has nothing to do with bitcoin even if people talk about bitcoin at the same time.

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June 23, 2019, 01:07:10 PM
 #13

Are you saying that people have started to accumulate bitcoin prior the the halving? If that is the case if might be the true reason for the sudden surge. However, the price increase doing look good and the pump should have expected after the block halving and not before, in my opinion.
People tend to front run events, especially when they are guaranteed to play out, and the block halving fits in that category. From there it's pretty easy to assume that people are buying up Bitcoin to sell the event.

Selling the event doesn't mean we won't go up after the block halving anymore, which we will, but the price increase in the run-up to the block halving is so extreme that it has the cut in rewards calculated in by ~200% already.

This is obviously leveraging the charts of the past, but it so far has been quite a reliable indicator. Cycles don't exactly repeat, but they tend to rhyme in the crypto world, which is more than enough for me to take it serious.

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June 23, 2019, 02:35:10 PM
 #14

So we have Litecoin halving coming up. The media is talking about the Bitcoin halving coming up next year. That should push Bitcoin to ATH?

At the end of the day, miners need to become profitable so I think that will force the price of BTC to rise as the halvings occur. Forget 2020, I am more excited about the one in 2024 which will really reduce supply.

Any lost Bitcoins are gone forever and not replaced so that should also reduce supply over time. Scarcity will keep Bitcoin value on the rise over the long term.

I can say that,
You are partially wrong and partially correct.
The part in which you are correct that, LTC will rise,  it will.
But you are wrong that Btc will rise next year, as of now i can see that BTC is increasing at present.
And maybe for this ,  the prices of the other coins are also increasing.
Hope this helps you.


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June 23, 2019, 03:52:29 PM
Last edit: June 23, 2019, 04:03:31 PM by WinslowIII
Merited by JimboToronto (1)
 #15

So we have Litecoin halving coming up. The media is talking about the Bitcoin halving coming up next year. That should push Bitcoin to ATH?

At the end of the day, miners need to become profitable so I think that will force the price of BTC to rise as the halvings occur. Forget 2020, I am more excited about the one in 2024 which will really reduce supply.

Any lost Bitcoins are gone forever and not replaced so that should also reduce supply over time. Scarcity will keep Bitcoin value on the rise over the long term.

I can say that,
You are partially wrong and partially correct.
The part in which you are correct that, LTC will rise,  it will.
But you are wrong that Btc will rise next year, as of now i can see that BTC is increasing at present.
And maybe for this ,  the prices of the other coins are also increasing.
Hope this helps you.

Litecoin is the original shitcoin, hardly anyone outside of crypto has heard of it or gaf about it. Bitcoin has by far the best chance with mainstream success, if you think the price won't rise the year of it's halving you are a real idiot.

Not sure what the trigger for this rise is, but I think that the longer it stays above $10k the shorter the correction will be if/when it happens. I do expect a big litecoin dump in August, and that will probably result in a dump in the whole crypto market.
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June 23, 2019, 04:05:21 PM
 #16

While the bitcoin halving is still about a year away, quite possibly. Simply due to multiple bitcoin/crypto news sites releasing articles about the anticipation of the halving next year hence hyping bitcoin up, but people are also speculating other reasons like the trade war and such. There's really no way for us to know what exactly caused the price rise.

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June 23, 2019, 04:11:02 PM
 #17

Maybe it's whales who want to shut the door on avg Joe being able to buy a whole bitcoin? because if that was the motivation, I do believe they have succeeded (assuming it doesn't dump below $5k again.)
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June 23, 2019, 06:26:36 PM
 #18

If it is then the price increase should have happened on a much later date not as early as right now. If we are talking about the demand rising because of the halving, it would just simply be too far off to be even considered. The price increase we are just seeing now is due to the fact that Bitcoin's bull season is way overdue and we are just experiencing the effects from it right now.

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June 23, 2019, 07:01:32 PM
 #19

I think the halving this time around is going to be more priced in than the last time, because people have been talking about the halving being a big deal for the past year. As such, I think this bull market might be coming to an end about a half year after the halving, rather than it really starting to heat up a half year or so after the halving. Of course the halving will have a direct effect on supply and therefore price, but the increased demand due to halving hype I think has certainly already begun.
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June 23, 2019, 07:59:06 PM
 #20

I think bitcoin is becoming something that poor people may not be able to use it in future based on the way things are going. If we are having halving in 2020 and the market has started to react to that now that we are in 2019 it means by 2020 June bitcoin may be above $100,000. I am hearing about this reduction in supply of bitcoin by 2024 and that is going to create scarcity and bitcoin may be more than $1,000,000 then.
Bitcoin hitting $100,000 or more in the future doesn't mean most people can't afford to use Bitcoin. The minimums of most exchanges are usually lower than 1 BTC or fiat equivalent of 1BTC. Despite the network getting filled every day with unconfirmed transactions others that don't want to spend a lot on miner fees can always make use of  off-chain transactions with the Lightning Network.


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