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RE: The Second Bitcoin Block Reward Halving is Upon Us
Will the price of BTC go up after halving? I think the price is already baked in and it will be in $60 0to $700 range
Will the price of BTC go up after halving? I think the price is already baked in and it will be in $60 0to $700 range
It's hard to calculate how much the halving could send up the price. So how would people be able to accurately take into account something they can't calculate? It's likely people have over estimated or underestimated. Furthermore, the lack of selling pressure caused by the halving ... how long has it been taken into account for? 1 month? 1 year? 2 years?
The price of BTC 1yr ago was around $200 and today its $660. The anticipation that BTC price will double is already accounted in current price i.e. is 2*$200=$400. The extra $260 is based on new investment pouring in BTC. If these investor take profit and exit price will come down to $400 range (which I believe is unlikely) . So I think the price of BTC will remain in $600-$700 range.
In the short term perhaps.... there will be more events on the BTC horizon.
Let's hope the price will be stable and profitable for miners.