Litecoin Consolidates at the Bottom of the Chart as It Battles Low Volatility

11分钟前
coinidol

11 December 2019 - ETH/ BTC – Weekly

11分钟前
cryptodaily

Ripple's Xpring Debuts New Platform for XRP Payments Integration

23分钟前
utoday

Lithuanian Central Bank Publishes Crypto (CBDC) Research

23分钟前
cryptonewmedia

BitPay now supports Gemini Dollar and other stablecoins

35分钟前
bitcoinwarrior

EBA publishes sustainable finance action plan

41分钟前
bankingtech

Cboe Global Markets agrees to acquire EuroCCP

1小时前
bankingtech

Binance.US Considering Listing TRON (TRX), NEM (XEM), Tezos (XTZ), and Ontology (ONT)

1小时前
cryptoglobe

US Indicts 3 for $722 Million Crypto Fraud

1小时前
financemagnates

Ethereum smart contract calls increasingly running out of gas post-Istanbul 

1小时前
bitcoinwarrior

UK remittance fintech Paysend secures Canadian MSB licence

1小时前
bankingtech

Bitcoin And Crypto Market Cap Turn Red: BCH, Litecoin, XTZ, TRX Analysis

1小时前
cryptonewmedia

Bitcoin Price Predicted to Skyrocket to $100,000 in 2020 by Silk Road Founder Ross Ulbricht

2小时前
utoday

Bitcoin value transfer occurring primarily between exchanges: Chainalysis’ Gradwell

2小时前
bitcoinwarrior

TTS235 David Skarica and Gabriel Kurman from LABitConf

2小时前
letstalkbitcoin

丹麥當局從嚴查稅!發函索取加密貨幣交易完整資訊

2小时前
blockcast

Ripple (XRP) Price Turned Sell On Rallies: BTC & ETH Down

3小时前
cryptonewmedia

Bitcoin [BTC] Price Pattern Projects a Bullish Reversal after Fall below $7000

3小时前
coingape

Twitch Streamer Stalker Is Running Rampant, Posts 400-Page Manifesto of Complete Insanity

3小时前
cryptonewmedia

Ethereum (ETH) Holding Uptrend Support But For How Long?

4小时前
cryptonewmedia

Dozens of Japanese Banks Join JPMorgan’s Blockchain Network

4小时前
nulltx

Bitcoin [BTC] Derivatives based on Hashrate and Difficulty creates a Buzz in Mining Space

4小时前
coingape

AI coming of age will revolutionize small businesses

5小时前
bitcoinwarrior

「比特幣側鏈」Liquid 的交易所 ICO 發幣首例!BTSE 預計透過籌資 5,000 萬美元

6小时前
blocktempo

Santander Completes its Blockchain-based Bond Trial on Ethereum » The Merkle Hash

6小时前
cryptonewmedia


Two Years of Upside? Bitcoin Yearly Candles Hint Explosive Price...

newsbtc

8天前前

Bitcoin prices might be a long way off their 2019 high of almost $14,000 but this year has still seen the cryptocurrency gain in price. The year opened with the leading digital asset trading at just below $3,800, considerably less than its current price of around $7,300.

Although yearly price data is clearly limited, if previous years are anything to go by Bitcoin looks set to post two more years of gains. There seems a pattern emerging that sees a year of decline follow three years of upside.

Despite the admittedly meagre sample size (Bitcoin has only been around for a decade, after all), the price of the leading cryptocurrency by market capitalisation looks poised to post two more years of upside. Bitcoin price, when viewed as a yearly candlestick chart, appears to be repeating a pattern of three years of upside followed by a year of losses. Given that Bitcoin is such a young asset, there have only been two of these four year cycles to observe so far. That said, the first candle of the third looks to be falling in with the pattern with just over four weeks left in the year. Providing the price stays above $3,800, the pattern will remain intact.

Bitcoin yearly candles+ pic.twitter.com/zoWscMGqk0

— Bitcoin Charts (@ChartsBtc) December 2, 2019

Along with the general pattern of three up, one down, there is another interesting, potentially emerging trend. The last candle of the back-to-back price increases is typically much larger than the two prior. If the pattern holds true, it looks like 2021 will see explosive growth for the digital asset.

The oversized candlesticks every four years are likely partly the result of the halving event programmed into Bitcoin’s code. Every four years, the supply of new coins gifted to miners for adding a block of transactions to the blockchain decreases by half. This essentially increases Bitcoin’s stock-to-flow ratio (a measure of scarcity) and any uptick in demand has a much more magnified impact on prices than a similar increase would have done prior to the halving.

The next halving event is expected to occur during May of 2020. This will see the number of new Bitcoin added to the total circulating supply every ten minutes fall to 6.125.

Some traders and market analysts believe that the next halving will result in another parabolic run up in Bitcoin prices, like those seen in 2017 and 2013. PlanB (@100trillionUSD) argues that the reduction of new Bitcoin regularly hitting the market will eventually see the price rise to around $55,000 per Bitcoin. The analyst makes no prediction as to when this will occur. However, given that the stock-to-flow theory of Bitcoin’s value centres around the halving events every four years, if PlanB’s prediction comes true, we will see a $55,000 Bitcoin at some point within the four years following May 2020.

#Bitcoin halving .. 5 months to go 🚀

For miners: production cost of 1 btc will double

For investors: stock-to-flow (unforgeable scarcity, inability to inflate stock) will double pic.twitter.com/JWNbJyil4a

— PlanB (@100trillionUSD) December 1, 2019

Related Reading: Bitcoin Falls 20% Below Stock-To-Flow Forecast

若涉及版权问题,请联系:content@hashbee.com,我们将立刻撤下新闻内容

0个评论