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Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning
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Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning

Only 120 Days Remain Until Bitcoin’s Halving; Here’s What to Expect

Tony "The Bull" Severino
Tony "The Bull" Severino
5 years ago
3 mins read
bitcoin halving crypto btc reward

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As of today, January 13, 2020, Bitcoin’s halving is just 120 days away, marking the first time such an event will occur since the first-ever cryptocurrency rocketed into the public eye and became a household name.

With the halving drawing nearer, here’s what cryptocurrency investors and Bitcoin believers can expect going into the next four months.

Bitcoin Halving: 120 Days Away and Counting

Before Bitcoin, many attempts at developing a digital-only version of cash had ultimately failed. Through these failed ventures, Satoshi Nakamoto – the mysterious and unknown creator of Bitcoin – coded Bitcoin’s protocol to contain certain failsafes that would not only prevent a double-spend – among the biggest challenges prior developers faced – but also to ensure the asset’s longevity and scarcity.

Related Reading | Bitcoin Falls Below Stock-to-Flow Model, Will The Halving Be Front Run By Bulls?

Through a process called proof-of-work, Bitcoin miners validate each new block generated, before permanently adding it to the cryptocurrency’s underlying blockchain. To keep miners incentivized to keep this process going, they’re rewarded with an ever-decreasing amount of Bitcoin for their efforts.

To ensure Bitcoin’s scarcity, that block reward miners receive for validating each block is reduced by half at scheduled intervals. The first-ever block mined rewarded miners with 50 BTC and then was later slashed in half to 25 BTC.

Currently, the number sits at 12.5 BTC per each new block mined, but come this May – only 120 days away at this point – the reward will be reduced to just 6.25 BTC, limiting the amount of Bitcoin entering the market.

Only 120 days left until the #Bitcoin Halving…$BTC

— Rekt Capital (@rektcapital) January 13, 2020

Here’s What to Expect After the BTC Block Reward is Cut in Half

Now that you know exactly what the halving is, what exactly should crypto and Bitcoin investors expect for price action leading up to the event?

Because there have only been two halvings prior in Bitcoin’s short history, there is little information available for comparison’s sake.

During past cycles, Bitcoin would rally ahead of the halving, yet a short-lived selloff would occur just before the actual having arrived, that extended past the halving. Each time the price of the crypto asset rebounded from the selloff, a new bull run began.

But is this time different? This cycle, Bitcoin went on a preemptive parabolic rally, taking the price of the crypto asset back to $14,000 before it was rejected. FOMO from traders not wanting to miss out on cheap Bitcoin drove up the price of the cryptocurrency at the same time a massive Ponzi scheme unfolded that encouraged now-duped investors to buy Bitcoin to fund a growing scam called PlusToken.

These factors have Bitcoin approaching the halving from a downtrend for the first time in the asset’s history, and it could cause the market to respond uniquely this time around as a result.

Related Reading | Crypto Analyst: BTC Price Could Be Trapped in Tight Range Until Halving 

Because the halving is so hyped by the crypto market, a pre-halving rally could result in a massive sell the news event. However, if history repeats, this could be the final sell-off before the new bull run begins.

The idea is that the reduced supply entering the market from miners causes the price of the asset to rise. To how high is anyone’s guess, but long-term predictions are in the hundreds of thousands to over a million dollars per BTC.

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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.

Read more

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

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