Bitcoin is the biggest talking point in the Crypto World in 2019. From Bullish predictions to controversies regarding its mysterious creator Satoshi Nakamoto, it has taken the center stage again and is looking to launch at any moment. The buildup of a bull run has made investors and enthusiasts nervous. What happens in the future, will be written down in history.
Analysis Suggesting A Bull Run
Technical analysts of the crypto community suggested a strong indication of a bull run in the near future. The data says that Bitcoin going up by more than 200% is a possibility and the record it set in 2017 can be broken. It is difficult to imagine bitcoin going to $20,000 again but it might be a reality in the future. Also, the Bitcoin growth figures have been more or less following the same pattern as 2017 before it blew up.
Having a strong rise from $4000 to almost $9000 between the periods of April To June, the data suggests further doubling down on the amount in the following months. But this not being the case has also been anticipated by analysis as a 30-40% pullback after extended rallies based on historical performances of the last 5 years.
Effect of Halving Rewards on Bull Run
A bull run may be the most likely possibility, but a phenomenon can adversely affect the duration of the bull run. Every three years or so, there is an event called “bitcoin reward halving”. This event means that mining rewards turn into half for the same effort. Litecoin has already announced its halving period starting from August 6 this year and bitcoin can follow suit many investors feel.
So, this halving can bring two events. Either it will lead to a full-blown FOMO (Fear Of Missing Out) that will skyrocket the price in a couple of days or hours even, or it will lead to a premature stoppage of the run as investors pull out their money leading to prices going down. The possibility will decide the future of the crypto world.