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Breaking News: FTX Recovery Trust Set To Disburse $1.6 Billion By Month-End, FTT Price Skyrockets

Bitcoin To Explode To $18,000 Ahead Of Halving, As Probability Of New ATH Grows

Tony "The Bull" Severino
Tony "The Bull" Severino
5 years ago
2 mins read
criptomonedas que van a explotar en 2025

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Bitcoin has already had an explosive start to 2020, but the rocket ship is only just getting started with the cryptocurrency’s halving just “around the corner.”

According to historical data, Bitcoin could rise to as high as $18,000 ahead of the halving, and with the probability of a new all-time high rising by the month, any post-halving correction could be the last drop before a new record is set.

Bitcoin to Skyrocket by 80% Ahead of Halving?

Bitcoin’s recent rally is in part fueled by the hype surrounding the asset’s upcoming halving this May. It’s even caused a surge in Google search queries on the topic.

When the halving rolls around, the block reward miners receive for powering the network is slashed in half, causing the cost of production of each BTC to double overnight.

Related Reading | Historic Bitcoin Cycle Suggests No New All-Time High Until 2021 

The theory is that this causes miners to sell less Bitcoin into the market until valuations improve.

The less supply flooding the market causes an imbalance of supply and demand that further causes prices to spike.

With Bitcoin already having an extremely scare supply, and is being held by investors for the long term with the expectation of prices over $100,000 in the future, demand is already increasing and causing valuations to grow.

Bitcoin is already up by over 40% year to date and is trading above $10,000 for the first time since August 2019.

But according to previous halving data, Bitcoin has in the past risen by another 80% from the current timeframe to the halving.

This would take Bitcoin to as high as $18,000, then a 40% correction back to $10,800 before a new all-time high is set.

#Bitcoin's halving is right around the corner!!! Great time to take a look at what happened in the months immediatley preceding & following the last #halving.

In 2016 $BTC appreciated +81% three months before it halved. A 40% correction followed and then we mooned. 🌛🚀 pic.twitter.com/yL5C6JlNR4

— Tyler Coates (@Sawcruhteez) February 14, 2020

Probability Grows For New All-Time High By Summer Through September

The probability of Bitcoin setting a new all-time high this year has been growing.

According to data from Skew, via Arcane Research, the probability of Bitcoin setting a new all-time high by June is as high as 6%.

The same data shows that probability rising to 10% by the time September rolls around.

bitcoin halving all time high

The timing lines up with previous halving price action. Following a new 2020 high set at $18,000 ahead of the halving in May followed by a fast but deep correction that would swiftly be bought up by June, could rebound straight into a new high over the Summer and into September.

Related Reading | Data Shows Bitcoin’s Progression From Retail To Institutional Asset 

Taking Bitcoin above its past all-time high would likely cause a ripple effect, causing many more investors to FOMO into the asset before prices go parabolic once again.

Featured image from Shutterstock
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Tony "The Bull" Severino
Tony "The Bull" Severino

Tony "The Bull" Severino

Tony "The Bull" Severino, CMT, is a distinguished figure in the cryptocurrency analysis sector, renowned for his in-depth technical expertise and innovative approach to market trends. As the Head of Research at NewsBTC, Tony leads a team dedicated to providing cutting-edge insights and forecasts, helping both novice and experienced traders navigate the complexities of the crypto market.
A seasoned Chartered Market Technician, Tony's prowess in identifying and capitalizing on market patterns is unmatched. His academic and professional journey in market analysis has firmly established him as a leading authority in technical trading strategies. Tony’s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements.

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Beyond his role at NewsBTC, Tony is the visionary founder of CoinChartist.io, an educational platform aimed at demystifying the nuances of cryptocurrency trading. CoinChartist.io serves as a valuable resource for traders seeking to enhance their technical analysis skills. The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions.

In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony’s expertise to guide their trading strategies.

Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies.

Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders.
His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics.

Tony’s nickname, "The Bull," aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice.

In summary, Tony "The Bull" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

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