Bitcoin Experts Claim Post-Halving Performance Is More Bullish Than Pre-2017
Bitcoin price is gaining in momentum, tracking along well with the many scarcity-based valuations models that exist. These theories all believe that the cryptocurrency’s block reward halving kicks off a markup phase of epic proportions.
Currently, there are only two previous samples to go by, each where the asset explodes in ROI post-halving. At present, Bitcoin price action is outperforming even the early bull market foundation that resulted in the 2017 crypto bubble. Could this mean that the cryptocurrency is even more bullish during this cycle? Experts believe this is so, and it could lead to prices of $288,000 before the end of 2021 if the trajectory stays on target.
Experts Average Past Cycles, Conclude Bitcoin Price Will Reach $288,000 By End Of 2021
Early 2020 turned bearish due to the newness of the pandemic and the fear and panic that resulted. Bitcoin fell back to retest its bear market bottom, which held setting a higher low.
This was just one of two steps in confirming that the crypto asset’s bull market is on, with the second confirmation arriving this month with a higher high over last year’s peak.