Bitcoin Will Be Halving In Less Than A Week: My Thoughts And Predictions

This coming week will be an interesting week for Bitcoin and crypto in general as we're less than a week away from Bitcoin's next halving. The last halving happened in 2016 and the one before that happened in 2012. It's an exciting time in crypto and no one is really sure how crypto prices will be affected. The last two halvings have seen price increases, but with the Coronavirus still having a negative impact on the global economy, people really aren't sure. Even despite the virus, others believe that the halving has already been "priced-in".

I'll give my brief thoughts on how I think Bitcoin and crypto will be affected, but of course, there's a good chance that I'll be wrong as crypto in general is quite unpredictable.

The short answer is that I think the halving will have a positive impact on Bitcoin's price, but it might not happen immediately following it.

Here we have a chart of the two previous halvings and in both cases it ended up having a positive impact on Bitcoin's price in the long term. To those who say that the halving is already "priced-in", then I'd like to ask why Bitcoin's price went up after the 2016 halving when investors in the crypto-space knew about it in advance? I'm not saying I'm right or that anyone who thinks that is wrong, but I'd really love to hear people's thoughts on the matter. I enjoy having discussions about things like this.

I think that the price increase might not happen immediately, but I expect to see some upward movement with Bitcoin's price over the next 2-3 months. As the world economy eventually recovers, I'd expect that to help increase the price as well.

I'm predicting by August that Bitcoin's price will hover around the $13K USD mark. I don't think we'll be getting another crypto boom this year (as nice as that would be for everyone) like we seen in 2018, but I see it being a good year for us. Within the last year, we've seen Bitcoin hit the 13K USD mark and a halving didn't cause that so I think it's a reasonable prediction.

The thing that I think a lot of people forget about is that Bitcoin's halving always brings attention from the news and from media which always brings in more investors whether they're new investors or previous crypto investors who are returning. We already know how the supply will be affected, but the question is will the demand go up, stay the same, or go down. That's what will ultimately affect Bitcoin's price in the end.