Will Bitcoin Crash? | Cryptocurrency For Begginers 2021
Bitcoin crashed just like before last halving
Bitcoin collapsed just like before the last halving.
Then the collapse was followed by a short-term recovery.
Maybe it’s all just a coincidence.
It seems that the story around bitcoin price development tends to repeat itself, albeit in part..
As history shows, a sharp collapse of the rate on the eve of the halving has already happened in the history of bitcoin..
The first to notice this was the CryptoPotato resource.
In July 2016, when Bitcoin went through a second cut, the cryptocurrency also collapsed right before the cut..
Four years ago, just two days before the halving, bitcoin soared in price by more than 70%, but at the peak of the decline, the cryptocurrency collapsed by 11%.
Then the price of bitcoin fell from $ 678 to $ 604, later recovering to $ 640.
On the day of the halving itself, bitcoin sank by more than 5%.
It is worth noting that bitcoin managed to recover in price for a short time in the same month, however, on August 1, the bitcoin price fell to $ 533.
A few hours remain until the third halving of bitcoin.
As we already know, the next cut will reduce the size of the block mining reward from 12.5 to 6.25 BTC.
Recall that just a day before the reduction, the price of bitcoin experienced another flash crash, having collapsed by more than 15% in just a couple of minutes.
The total size of liquidated positions on crypto exchanges was about $ 1.3 billion.
Many were shocked by such a quick correction, as the cryptocurrency has been able to overcome the psychological mark of $ 10,000 more than once in the past couple of days, signaling the bulls about a potential rally to the $ 10,500 mark..
Earlier, the editorial staff of BeInCrypto already wrote that a cryptocurrency analyst under the nickname @davethewave predicts a further drop in the price of BTC to $ 6329 by the end of June.
On his Twitter page, the analyst noted that the fractal shows a drop in cryptocurrency to $ 6,400 in the coming weeks, and then another 25% drop is possible..
On moment of writing, bitcoin rate settled at $ 8500.
What do you think? Is the coincidence a coincidence, or did the mysterious whale that crashed the price deliberately do it? Share with us with our thoughts in the comments.
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