Bitcoin Halving

Bitcoin remains in the uptrend zone despite its recent fall. In the last 48 hours, it dropped again to $8,200 low and moved up.

As the 3rd Bitcoin halving event scheduled for March 12 nears, many countries are rethinking their opinion on crypto mining. Sichuan, which initially banned crypto production, is now backing it and will lower electricity cost for miners.

The Bitcoin halving draws nearer as it is expected to take place in just under two weeks, and the expectations for price increases among several cryptocurrency investors are extremely high, though the uncertainty of the current market might push it into a negative sentiment.

Multiple Bitcoin price falls on March 12 to $6,040 USD and another fall on March 13 to new lows of $4,563 totaled a 40% price decline in just 24 hours. Both falls were caused by massive and continuous Bitcoin sales.

Sometimes, we use history to forecast what will happen in the future. Back in 2015, one YouTuber predicted correctly that bitcoin will see a bull market in 2017, a prophecy that came to pass.

There are dynamics in Bitcoin that regulate the available supply which affect pricing. In this article we will focus in on the Bitcoin Halving and its historical pattern and relevance.