Bitcoin will reach an astronomical all-time new high.

[U_Trune]

“It was born out of the financial crisis for exactly what is about to come in this crisis. This is literally what Bitcoin was invented for.”

It’s been left for dead more than once, written off as nothing but a bubble and denounced as rat poison by one of the world’s most famous investors. Yet Bitcoin is once again staging a comeback reminiscent of the token’s glory days, with evangelists pegging their hopes on a technical event as the new catalyst.

Bitcoin, born from the Global Financial Crisis of 2007-08, is now outperforming stocks and gold. With the bitcoin halving event scheduled to take place in 4 days, all eyes are heavily focussed on bitcoin, an asset that has only 21 million bitcoins in existence.

1️⃣ First bitcoin halving: During 2012, the price of bitcoin increased from $11 to $1,000.

2️⃣ Second bitcoin halving: From 2016-17, the price ballooned from $700 to $20,000.

3️⃣ Third bitcoin halving: Scheduled on May 12, 2020 (the price impact is still yet to be seen).

It is expected that the price of bitcoin will reach an astronomical all-time new high.

What do you think about it? This stuff really needs discussion. Share your thoughts in the comments!

[20kevin20]

Past two halvings' results don't mean anything but a possibility that the third one may or may not turn out to have the same insane results.

To those who've bought early, any new dollar added to the price is an insane profit. But if you bought at $20k, all you can do is either sit & wait for another massive ride or just sell. It's all about speculation. If you take a look at both halvings, $11 -> $1,000 is almost 100x while $700 to $20,000 is much less although at a first glance looks like a massive increase. If we follow the same trend, it means this time the price post-halving will be much lower than you may expect.

It's just too early. I say we need at least 5 halvings + 2-3 more years before we can possibly say there really is a correlation between halvings and price.

[pakhitheboss]

History might not repeat itself this time.

Past halving did not have a pandemic where globally people are struggling to survive, hence this halving you won't see Bitcoin price going high and niether next year.

This is the real test for Bitcoin and if it survies this situation then it can survive anything. I have full confidence that it will easily pass this test.

[vycl87]

Another topic that has been discussed many times before. In general, let me share the common point of the answers with you.

1- There is no certainty that the results of the future halvings and the future halvings will be one.

2- After halving, there may be some price retractions from time to time rather than momentary rises. You have to be careful.

3- After the second halving, it took more than 1 year for the price to reach the new ATH.

4- During the previous halvings, there were "much fewer cryptocurrencies" on the market than today, so the vast majority of money on the market came to Bitcoin. Now thousands of different cryptocurrencies are competing to attract more money.

5- The past can give us an idea for the future, but it is impossible to predict what will happen in the future!

[FlightyPouch]

It is true that the price of bitcoin did increase in the past after the halvening happened but I don't think it would be the same right now. The price of bitcoin is not that low these past 4 years and the price is immediately increasing even though it dropped just last month to almost $3K. I think it would increase to reach $15K but I don't think it would be something higher than that. I don't think we would be seeing another ATH this year since we also have some negative effects on the pandemic.

[yazher]

When you say astronomical all-time it means it goes beyond the space linguistically. what you actually mean is it will record a new highest price in the history of Bitcoin. Base on the past history of Bitcoin, those times aren't what we have experience right now. like for example, we have a massive fall of industries due to the pandemic. I mean where will people get their money to invest when they need to make some recoveries to their companies. In my own opinion, we only see today some spike on the price but new record? I don't think so.

[Sanugarid]

When you say astronomical all-time it means it goes beyond the space linguistically.

It is a metaphor though. He only means that it will go beyond the current all time high.

what you actually mean is it will record a new highest price in the history of Bitcoin. Base on the past history of Bitcoin, those times aren't what we have experience right now. like for example, we have a massive fall of industries due to the pandemic. I mean where will people get their money to invest when they need to make some recoveries to their companies. In my own opinion, we only see today some spike on the price but new record? I don't think so.

This could be right, people will withdraw their money out of bitcoin because they are needing a lot of essentials right now but as I see to the news government are giving reliefs for everyday needs so it would be a quite of assumption if we think of this way. Besides rich people composes the price of bitcoin at least 50% of it, but if this is really the case for bitcoin then it won't reach a new all time high. Hope is still up for good result this halving.

[Leonardo7]

We can't judge by past halving to predict this upcoming halving. What bitcoin basically needs right now should be mass adoption since people from every walks of life have accepted bitcoin as a true currency to fight economic hardship what we now is mass adoption by major players in the economy. After this we can go ATH or even reach the sky.

[nicecrypto]

You should realise 2020 is quite different from previous years, although I don't know much about halving and have not really witness it to happen but from the look of things I don't know if astronomical ATH is the right word, except all that is happening around the world will not have any effect on btc, now the price is down while halving is 2 days away,
Anyways, I would like to see this happen, I think lots of people will be extremely happy if it does.

[joinfree]

This is a highly exaggerated mate, there is no possibility that the price of bitcoin will near the price of $20k by the end of this year to even think of a new all-time high. Where do you think monies are going to come from to invest to push this price again. Normal manipulation of the market will not cause such a huge rise in the price of bitcoin. only huge investment can and that is not coming any time soon.

[Reid]

I am still pessimistic about it.
Don't really want that to happen in just a small amount of time.
If it does then we will see a freaking dump that we haven't seen in years.

However they support bitcoin if they see profits they will obviously sell it all and just buy back when its freaking cheap.
Are we still going to be a martyrs and not do that for dollars? I doubt that.

[Kez1817]

Bitcoin is valuable but in terms of it's price base on the history,bitcoin did not stop to reached much higher value and i hope it will continue to reach all time high like on this coming  bitcoin halving event even though it's value now is up and down. History may not repeat but there is no impossible to happen again if the demand continue to increase despite of the covid19 pandemic that world problem so far.

[freedomgo]

I hope the trend would be followed but I don't expect a big pump if in case bitcoin will rise.
We've seen the pump, but it was short and I think bitcoin is heading for a correction now, and it might happen prior and post halving.

[NeuroticFish]

It is expected that the price of bitcoin will reach an astronomical all-time new high.

As your numbers show, each new bubble means smaller percentual growth.
So the new ATH could be indeed big, but not astronomical. If you call it astronomical, some guys that just got a few satoshi from a faucet will think they'll be rich in 2 years.

This stuff really needs discussion.

Not really. Some have higher expectations, some not. Some still hope for low price so they can buy more. Some think that there will be no new ATH.
It's all speculation, which imho is rather meaningless. We cannot foresee the future and I'm not sure if we should build up so big expectations so fast.
Last ATH was iirc at more that a year after halving and the FOMO rush happened only in the last months of that period.

[btc_angela]

It is expected that the price of bitcoin will reach an astronomical all-time new high.

What do you think about it? This stuff really needs discussion. Share your thoughts in the comments!

It has been discussed so many time in this community, we even have a board here, Speculation.

The thing is "past performance is not indicative of future results". Maybe we can see bitcoin goes on and reach another all-time-high, but compare to two past halvings, it might take some time to achieved it. There is also a thought that we have a 4 year cycle, so we will see if this is going to hold or not. Crypto market is fairly young, so it's really hard to predict the price and add the volatility and manipulation.

[Tipstar]

It is expected that the price of bitcoin will reach an astronomical all-time new high.

What do you think about it? This stuff really needs discussion. Share your thoughts in the comments!

It has been discussed so many time in this community, we even have a board here, Speculation.

The thing is "past performance is not indicative of future results". Maybe we can see bitcoin goes on and reach another all-time-high, but compare to two past halvings, it might take some time to achieved it. There is also a thought that we have a 4 year cycle, so we will see if this is going to hold or not. Crypto market is fairly young, so it's really hard to predict the price and add the volatility and manipulation.

Bitcoin halving is a real deal as it halves the amount of new coins being generated. The miners are the ones that makes the market moving. They need to sell coins to cover their expanses while hodlers buy and sell for profit. As the reward decreases, miners won't be selling coins cheap. They'd rather wait and hold than to sell coins for a loss.

[Exolix]

It is expected that the price of bitcoin will reach an astronomical all-time new high.

Maybe it will, maybe not. There are statistics and data on previous Bitcoin Halving. And this can definitely be taken into account. But there are other factors that will also affect the cost of bitcoin: the level of technology in 2020, the state of the economy, panic by a pandemic, etc.

[mk4]

As the reward decreases, miners won't be selling coins cheap. They'd rather wait and hold than to sell coins for a loss.

Quite an assumption there. It really might not be a great idea to put all the miners under one blanket, thinking that they will all react the same to the halving. Remember, they're mostly different people running different mining operations and with different profit margins and such. You can't make one conclusion for all of them.

[carter34]

I hope the trend would be followed but I don't expect a big pump if in case bitcoin will rise.
We've seen the pump, but it was short and I think bitcoin is heading for a correction now, and it might happen prior and post halving.

Yeah maybe the correction is on. Price at 8,970 at close hour. Who knows the next price to head after today. This prior halving is going to be highly volatile, price has not be stable which is expected. It has been dropping from reaching 10,000 dollars 4 days ago.

[Pamadar]

It is expected that the price of bitcoin will reach an astronomical all-time new high.

Maybe it will, maybe not. There are statistics and data on previous Bitcoin Halving. And this can definitely be taken into account. But there are other factors that will also affect the cost of bitcoin: the level of technology in 2020, the state of the economy, panic by a pandemic, etc.

All those mentioned are factors that can  affect the movement of bitcoin, we are unsure how this incoming halving will take place. Lots of speculative
guesses coming from different opinions and assessment of people who are actively monitoring the trends.