The Bitcoin could come after the upcoming Halving based on historical Trend data in sight to the brand of 500k USD.
Dan Morehead expects that the Bitcoin could be controlled in August 2021 a price level of up to 500,000 USD. As justification, he cites the experience from the time after the consummation of the Halvings, as well as increasingly bullish indicator signals, the closer the date for the halving approaches.
In Pantera Capital investors-addressed comments, says Dan Morehead as the CEO of the Blockchain hedge Fund to predict that the next BTC rally may lead to the Halving at rates of up to 500k USD.
This is evident from an open letter more heads from the 30.04.2020, wherein the funds-in-chief leads as a cause to the historical Performance of the crypto-currency after the last Halvings into the field.
More specifically, the voice of Pantera Capital CEO the investors to a 50:50 Chance that it will be after the Halving in the coming week to a new all-time high to come. In his opinion the crypto-currency could be imminent, according to a first Upward-rash Large.
In his daring forecast Morehead refers to past developments in the run-up to and after the Halvings. He invoked the historical past of Bitcoin-to-ground training before the last Halving, and also mentions the so far compulsory Boom of the price after completion of the process.
“The Bitcoin low point was reached in the past 459 days prior to the Halving, went through this and broke out after an explosion upward.”
That’s not enough. On average, the following hitorische BTC rally lasted for 446 days. So if history repeats itself, so Morehead might be reached of the highlights in August, 2021 at a price of about 533.431 USD. Unquestionably, a large question mark behind the statement; the Fund CEO is aware of. It even speaks of a “ridiculous high-sounding price”. Nevertheless, he sees a 50:50 Chance that it could actually develop such a scenario.
Therefore a Bitcoin rally in front of the Halving is quite likely
In the run-up to the next Halvings, a comprehensive upward trend remained, although so far; nevertheless, the Coin still in the beginning of April at just under 6,000 USD, while the price of the 12. Around may, presumably, the brand of 10,000 USD will leave.
The BTC bulls had reached in the past week, the threshold of 9,500 USD, it fell in the connection before the following correction to 8,500 USD on Monday, due to the increasing selling pressure hard, for the time being, a rate of 9,000 USD to keep. However, the bullish movement seems to be gaining the upper hand. Within the past 24 hours, the price climbed again, to over 9,000 USD.
The price of Bitcoin was 5% above the opening price of the previous day, what is the Coin of the recovery phase, owes today, early in the Morning. In addition to the Bitcoin and currencies such as Ripples XRP or ETH many of the Coins are recorded in gains.
A continuation of the upward movement is likely, such as some of the market illustrate indicators. As the key signal here is the “Moving Average Convergence Divergence” (MACD) with changes in the criteria of thickness, direction, and dynamics can be used. The “indicator color” was changing to Green. It is the latest interest rate bullish Signal that the Bitcoin rate of 8,000 to 10,000 USD helped.
It is questionable to be recorded: the Bitcoin, a late surge in the direction of the new highs, if the Halving is imminent? Investors should keep the price range between 9,000 and 9,500 USD very closely. Because here’s important information on the future direction of the course can sign off on changes.
