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[MCS Bitcoin Halving Series #2] The Predicted Effect of Bitcoin Halving from the Past Halvings of Altcoins

4 months ago

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💎 The History of Halving is repeated.  

Bitcoin (BTC) halving is very close, and the interests of the cryptocurrency industry and cryptocurrency traders are all centered into a question: will the price rally witnessed in the first and the second halving occur again?

   

In this article, we will analyze the price changes of Litecoin (LTC), which had its halving in the last August, and Bitcoin Cash (BCH) and Bitcoin SV (BSV), which had their halvings in April this year.

           

           

     

💡 The Halving of Litecoin (LTC)

   

Litecoin (LTC) reached its halving in August 2019. Litecoin started drawing an upward trend graph before May in the same year ahead of the halving point, and after peaking in July, the graph continued to decline.

     

There was also an interpretation that "Litecoin showed a brief price increase in anticipation of the halving, but Bitcoin dominance rose sharply after June 2019, and Litecoin price showed a tendency to fall without resistance."

           

             

   

💡 The Halvings of Bitcoin Cash (BCH) and Bitcoin SV (BSV)

   

The halvings of Bitcoin Cash (BCH) and Bitcoin SV (BSV) were in April 2020, about a month ago from now. As shown on the chart, both coins peaked in February 2020, two months ahead of their halvings, and then showed a downward curve and a slight surge after the halvings.

   

           

                   

👀 The Price Increase of Bitcoin Cash and Bitcoin SV, Is It Over?

     

   

Dr. Craig Wright, who is currently leading the Bitcoin SV, claims that he is the founder of Bitcoin (BTC), Satoshi Nakamoto, and submitted the 'Tulip Trust Accessible Key' that could prove this. After this event, Bitcoin SV's price had risen significantly, and the price of Bitcoin Cash had also increased.

Since the case of Bitcoin SV is currently in progress, people are questioning what will happen to BSV after the court's ruling: whether a green light will continue to lit up or it was merely a one-time event.

 

             

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🔥 "Bitcoin Dominance", Another Fact to Have Eyes On In The Time of The Bitcoin Halving

   

   

"Bitcoin (BTC) Dominance" refers to the ratio of Bitcoin's market capitalization to the total market capitalization of cryptocurrency.

   

The chart left shows the Bitcoin price from May 8, 2019, to May 8, 2020, and the chart right shows the Bitcoin Dominance for the same period. After Bitcoin Dominance reached its lowest point in June 2019, the price of Bitcoin gradually increased and the upward trend curve was shown. Some experts have suggested that "if Bitcoin Dominance increases, Bitcoin price is also likely to show an upward trend."

     

However, predictions are only predictions, and cryptocurrency traders around the world are paying attention to how far bitcoin prices will rise or when they will fall.

 

                 

                       

Please follow MCS column and predict the price trend after the halving.

 

📍 Previous: Bitcoin halving is just around the corner, and it’s time to turn your eyes from spot to derivatives.

[MCS Bitcoin Halving Series #1] Bitcoin halving is just around the corner, and it’s time to turn your eyes from spot to derivatives.
#Be_a_Trader! Welcome to MCS, the world-class derivatives trading platform where traders ALWAYS come first. Bitcoin halving is the most trendy keyword in these days. In the last month, Google Trend showed a chart with the skyrocketed graph for searching the keyword “Bitcoin Halving” f…

     

     

             

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Published 4 months ago