Bitcoin Surged 10x After 2016 Halving; Will 2020 See a Similar Result?

In about every four years, the Bitcoin blockchain network experiences a block reward halving, a mechanism that reduces the rate in which new bitcoin is generated or mined by miners.

The block reward halving has typically served as a key fundamental factor behind the dominant cryptocurrency’s major rallies.

From July 2016 to 2017, within a year following bitcoin’s block reward halving, the bitcoin price spiked by nearly 10-fold from $268 to $2,525. In previous years, the asset similarly saw large gains subsequent to the halving.

The past performance of an asset does not serve as a guarantee for the future performance of the asset. As such, merely because bitcoin saw substantial gains in previous years triggered by a particular factor, it does not definitively guarantee that the asset would increase by a similar rate in the future.

Reference: https://www.ccn.com/bitcoin-surged-10x-2016-halving-2020-similar-result

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Author: Neo Anderson

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