Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.
The next Bitcoin halvening is to take place next year and many are expecting this event to push the Bitcoin price substantially higher than now.
The crypto baron and former antivirus mogul John McAfee believes that by the end of 2020, BTC will hit nothing less than $1 mln per coin. He even put his manhood at stake.
“$13K-14K are on cards”
Now, a crypto trader @open4profit is making a bullish forecast that Bitcoin may surge past $10,000 and hit $14,000 before the halvening occurs in half a year, when Bitcoin becomes scarcer than before.
— ?Zια υʅ Hαϙυҽ ╚»Cɾყρƚσ Aɳαʅყʂƚ & Tɾαԃҽɾ?«╝ (@open4profit) November 11, 2019
Crypto traders remain bullish, however…
Other Bitcoin traders are also bullish on the major cryptocurrency, however, a decline is also possible, they say.
The @CryptoMichNL trader from the Netherlands believes that Bitcoin may continue ranging at the present price level. However, it could slide to $8,400.
Well, first level nicely holding here. Could continue the ranging here.
For bulls; break back above $9,050 required.
If not, I’m still aiming both green zones for a potential long (down till $8,400 if the market provides that opportunity). pic.twitter.com/rtbZeTtle7
— Crypto Michaël (@CryptoMichNL) November 11, 2019
The @CryptoWelson trader reckons that should Bitcoin close the resistance within a few days, this would be a big bullish signal for the market.
If $BTC can close above the resistance (red line), in the coming days, this is extremely bullish!
I’m watching the price closely to see if we can break out.
This scenario would signal a reversal for the months of decline we’ve seen, and would also be super bullish for alts! pic.twitter.com/RCq4mdFefz
— Welson ? (@CryptoWelson) November 11, 2019
Will the halving drop the BTC price?
Some believe that the approaching Bitcoin halvening event may not be as bullish for the BTC price as it was in 2016, making it skyrocket to around $20,000. Those forecasts say that the decline in the size of the miners’ reward may push retail miners out of the market.
Besides, some are doubtful that the BTC halvening is priced in. Among them is the investor and crypto podcaster Anthony Pompliano.
The Bitcoin halving is not priced in.
— Pomp ? (@APompliano) November 10, 2019