Bitcoin is Up by 16% Post Halving

[Nevril]

The third bitcoin halving happened on May 11 during the coronavirus chaos. But the king of crypto seems unstoppable. Despite the biggest financial trials of our time, bitcoin was able to climb by 16% since the halving took place. BTCUSD was trading at $8,436 last Monday and started an upturn, briefly touching the $10,000 mark ­– a bullish surge erasing its weekend crash. It is going up past $9,700 as of writing.

https://bitcoinist.com/bitcoin-is-up-by-16-post-halving/

[DarkDays]

Bitcoin is actually trading at $9,500—not $9,700.

In any case, we can't say that this growth can be attributed to the halving, since Bitcoin has already been on a dramatic uptrend since at least mid-March (after getting half of its value slashed as a result of the COVID19 pandemic).

Correlation doesn't equal causation, any logical trader will realize that the halving is simply incidental at this point, it will take some time until the reduced mintage has a knock-on effect on the price action of Bitcoin. (If ever).

[GreatArkansas]

(....)
Correlation doesn't equal causation, any logical trader will realize that the halving is simply incidental at this point, it will take some time until the reduced mintage has a knock-on effect on the price action of Bitcoin. (If ever).

Because people think that the block halving on Bitcoin could trigger the price of Bitcoin for parabolic move.

Why? Because they are used to on previous block halvings on Bitcoin, they able to experience a huge price action for every block halving.
But what other is waiting, the pump after the block halving, like months after, not before or during the block halving.
Some people expecting it to happen around year 2021.

[Yamifoud]

It is good to see that amid the crisis Bitcoin resistance is still rallying strong. From almost $10k a week before halving, then it drops at $8,700 during halving, and bounce back to $9,500 at this time. Felt that was a normal scheme at this time.

10%, 20% increase isn't impressive but if we could see it at 50%, people will absolutely think about Bullrun and that is what they wanted to see.
To see the impact of the pandemic in crypto, I have to say that Covid-19 is a big factor that helps the economic growth of Bitcoin during halving.

[Jawhead999]

IMO Bitcoin price isn't affected by halving, pump and dump is normal in cryptocurrency. Bitcoin is high volatility, the price can change around 30%/day. Many people are always expecting bitcoin will bullish after halving. I won't surprise while Bitcoin is in bullish, many journalists will create a good news by correlating the price with halving. It's not always from halving FOMO, but supply and demand in markets.

[Yaunfitda]

We have seen some minor correction in the last 24 hours, might be attributed to the 50 BTC that has been moved. Anyhow, the point is that post-halving, we have this kind of momentum that's why we didn't see a dump right after. So it's very different scenario as compare to 2016 halving. And maybe some miners opted out because of profitability and cost. But I'm sure we can continue to grow in the next coming months and hit $10k and continue this mini bull run after halving.

[meanwords]

IMO Bitcoin price isn't affected by halving, pump and dump is normal in cryptocurrency. Bitcoin is high volatility, the price can change around 30%/day. Many people are always expecting bitcoin will bullish after halving. I won't surprise while Bitcoin is in bullish, many journalists will create a good news by correlating the price with halving. It's not always from halving FOMO, but supply and demand in markets.

Yes, it is affected by halving because this event creates hype for the investors to talk about which will result into pump and later dump in a later date. You said it yourself, this journalist will try to hype this event as much as possible to start FOMO all over the place. I doubt it will continue though, we might see some dump later and an increase in price surpassing $12,000 in 5-6 months.

[Sanitough]

I wasn't expecting it will be bullish after the halving TBH, but the price did really well, bitcoin was trading at $9500 now which I think is good considering price should have dump after the hype as like what we usually see in the past.

Some says the effect of the halving will be by next year, so I if that is what is going to happen, then we cannot expect a new ATH this year.


But then, it's just a prediction, anyone can make and analyze on their own but we cannot deny the fact that bitcoin will always remain unpredictable and just when people expect a dump, sometimes an opposite will happen.

[mahilchii]

Definitely this is a great sign for the king of crypto currency, I was really disappointed after the Halving as the price of BTC didn't went up as per my prediction. However it's performing after the Halving is unbelievable, I am expecting few more pump from now and I believe BTC will keep going for few more weeks.

[carlisle1]

The third bitcoin halving happened on May 11 during the coronavirus chaos. But the king of crypto seems unstoppable. Despite the biggest financial trials of our time, bitcoin was able to climb by 16% since the halving took place. BTCUSD was trading at $8,436 last Monday and started an upturn, briefly touching the $10,000 mark ­– a bullish surge erasing its weekend crash. It is going up past $9,700 as of writing.

https://bitcoinist.com/bitcoin-is-up-by-16-post-halving/

Don't put all your good thoughts in this position mate because remember that there are some issues of manipulations in this market so
there may some dealings with the whales to let people feel the effect of halving and let them invest and after that they will dump the
 price so easy bagging of money again and this is happening for several times this year and last year so
 be aware and don't just put eggs in the bag.

Definitely this is a great sign for the king of crypto currency, I was really disappointed after the Halving as the price of BTC didn't went up as per my prediction. However it's performing after the Halving is unbelievable, I am expecting few more pump from now and I believe BTC will keep going for few more weeks.

Last halving of 2016 this almost same scenario that after halving the movement of prices is just moving to slow but when 2017 comes?
the market starts greening and finally Hit the highest Market capitalization ever and also the highest bitcoin price recorded.though
 bad things are also there to ruin the reputation of crypto so by all means invest with the amount
 you can afford fo lose thats the safest you can have.

[slackovic]

The biggest difference with this third halving is that now there are BTC futures where traders can make ton of money even if the price is going down. Futures were introduced after the 2017.-2018. bull run so first two halving weren't affected by them. I'm saying this because after futures were introduced, for a futures trader it's not important where the price is going (up or down). It's important that the price is volatile. That's why it could happen that we don't see a bull run at all...

[slaman29]

In any case, we can't say that this growth can be attributed to the halving, since Bitcoin has already been on a dramatic uptrend since at least mid-March (after getting half of its value slashed as a result of the COVID19 pandemic).

Correlation doesn't equal causation, any logical trader will realize that the halving is simply incidental at this point, it will take some time until the reduced mintage has a knock-on effect on the price action of Bitcoin. (If ever).

I think the value slash was just a knock on effect from the traditional markets panic, which yes, was triggered by the COVID announcement from WHO, but the wounds were there for a long time already. WHO just ripped off the bandages and exposed how bad it was.

What isn't incidental from halving is miners dropping off, which we all expected, and difficult dropping, also expected. Now we wait to see if miners really going to sit and hoard.

[Wexnident]

Yea no need to relate it to halving too much. One is that it's too early to actually see anything quite noteworthy, and two, there are quite a lot of factors out there that could affect the market price, not just the halving. There was a recent movement of 50BTC out there and there's actually a thread talking about that here. Besides, you can also attribute it to the natural movement of the market especially with the crash that happened a few months back. It suddenly returned to $9k and above which of course retraced itself back to around $8k. Now after a few days, you could say that it naturally moved up, making it for quite a natural movement of bullish momentum.

[bitbunnny]

So, basicly there is no.significant growth caused by halving.
This percentage isn't much and I'm not so sure that this 16% rise is actually the direct consequence of halving because even before that the price was slightly rising.
We'll see what happens next but I don't expect some big post halving impact and price will probably stay in current range.

[salamat700]

The third bitcoin halving happened on May 11 during the coronavirus chaos. But the king of crypto seems unstoppable. Despite the biggest financial trials of our time, bitcoin was able to climb by 16% since the halving took place. BTCUSD was trading at $8,436 last Monday and started an upturn, briefly touching the $10,000 mark ­– a bullish surge erasing its weekend crash. It is going up past $9,700 as of writing.

Notwithstanding the fact that Bitcoin remains a far cry from its ATH, considering the many things that transpired and still happening right now with the global economy, I would say that this is still a big good news post-halving scenario. I am sure that many of us are expecting that Bitcoin will be surging slowly beyond the $10,000 level soon. Compared to other assets, Bitcoin is doing good and I am hoping that the same direction can be true when we are heading into the end of 2020 and the coming of 2021.

[Cnut237]

It's difficult to attribute the rise to halving. COVID-19 casts a huge shadow over the markets at the moment. We had that huge initial drop, and we've been on a slow but steady recovery since that first market shock. I'm not convinced that we can argue that recent price rises are due to halving. It's not the most important price driver at the moment.

[kryptqnick]

It's difficult to attribute the rise to halving. COVID-19 casts a huge shadow over the markets at the moment. We had that huge initial drop, and we've been on a slow but steady recovery since that first market shock. I'm not convinced that we can argue that recent price rises are due to halving. It's not the most important price driver at the moment.

I think you're right. When the price want down, it seemed obvious that the main reason was the WHO declaring the pandemic. That was a sudden huge change of the price. What's happening these days looks more like fluctuations, nothing out of the ordinary. If we're talking about determining whether something was the primary cause behind the change, we can try answering the question: was this likely to happen without the cause we are assessing? Were these price fluctuations likely to happen without halving? I think they were because they are not that significant.

[ranochigo]

The price doesn't seem to have a huge impact on the price (other than the drop hours after halving). Remember, Bitcoin was already trading at ~$10000 before the covid19 pandemic. If anything, the gradual increase in prices in the recent weeks is just an indication of Bitcoin making the recovery to it's pre-pandemic prices. In addition, the price was already at an upward trajectory prior to the halving, halving doesn't seem to have too much of an impact on the price, at least as of yet.

[gantez]

The halving would push price up eventually. It is gradually trying to break out as the future looks bright for this. Economic recovery and more dollar influx in the market will be a plus to bitcoin increase. I'm looking at chart and this seem a good outlook from what I'm seeing.

[The Cryptovator]

To be honest, Halving didn't effect much on bitcoin price and we had encountered little dump exactly before Halving. Most probably its happen due to current pandemic. But we have seen bump after Halving, but these price isn't countable since bitcoin always showing same volatility. Its seems bitcoin failed to break $10K zone multiple times which is most important zone to consider another bull run. Currently price trend isn't seems to bull and we have seen sudden dump right now. I am not expecting any bulls before overcome covid-19.

The halving would push price up eventually.

Seems to me unrealistic expectations, how you expect that since Halving already done? And look at on price trend, this is just normal behaviour of bitcoin, nothing else.