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Bitcoin Halving: Do you think Bitcoin's price action history will repeat itself? by firepower

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hive-174578 · @firepower ·
$10.97
Bitcoin Halving: Do you think Bitcoin's price action history will repeat itself?
![gjRKviYm.png](https://images.hive.blog/DQmZdgxE5a1VCEAnSCqXyXYMBZaULad3nzFB91v29gC7wjK/gjRKviYm.png)

This is the yearly chart of Bitcoin's price action on a logarithmic scale from 2010-2020! Quite insane especially if you consider the absolute ROI across this timeframe. 

<center>![Screenshot 2020-04-27 at 8.25.34 PM.png](https://images.hive.blog/DQmbp4RQDySHCVyBGtJEaoQn1v6RZwSeeENh6sqxZtt2sUu/Screenshot%202020-04-27%20at%208.25.34%20PM.png)</center>


But this chart has data from 1 cent onwards only and earliest prices were likely to be under this figure. Also, let's not forget the epic moment when 2 Pizzas were bought with 10,000 BTC.  

Only 15 days to go until the next miner block reward halving (3rd) event. Previous one was in 2016. You can follow the countdown timer on the @coingecko [website](https://www.coingecko.com/en/explain/bitcoin_halving).


<center>![Screenshot 2020-04-27 at 8.28.36 PM.png](https://images.hive.blog/DQmNZHB1AUYTdrLF3N3EThRegM5dKddQCy7axCJKLcRSP3a/Screenshot%202020-04-27%20at%208.28.36%20PM.png)</center>

No matter what our reasons are for being in the crypto space today, we cannot ignore the speculation if we want to sustain in this space for the long run. 

It will be interesting to say the least where Bitcoin goes from here and if history will repeat itself from now until the next halving in 2024? 

![yhx6gFVj.png](https://images.hive.blog/DQmRX1DktW2QKYRSYKKuy2ovRAGa8RA3fKrtmniSHPUSftY/yhx6gFVj.png)

Can you spot the bear market on the chart? This is a linear scale version of the same which will show you the recent bear market. Even then you can barely see the previous bull bear markets compared to the 2017-2020 period. 

Insane volatility, random pumps and dumps are commonplace in crypto. A moderate 5x pump for BTC from current prices alone will get us to 35K per BTC. 

That's not a bad price even if we get there sometime in 2021 or even 2022. There's always a 50% chance it won't happen, but that's good enough right? 

A higher price is certainly welcome, as it's likely to lift up the altcoin markets as well which will benefit all of us. But, I hope HIVE price doesn't correlate itself closely with Bitcoin so that it can continue to move a little freely irrespective of what BTC is doing. 

We're off to a good start at the moment and I think there's a lot more action in store for 2020. 

Meanwhile, what are your expectations for Bitcoin price action and what do you think about its 10 year price?

-------

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@face2face · 
Hoping so..
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@i0x ·
$1.53
I doubt it will. The idea of a sudden push in price is not something that can happen like it used to before the world got to know so much about it. 

We will see some change, but definitely not a crazy one.
👍  
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@firepower · 
Similar expectations. Im certainly not expecting something like 2017 to occur again anytime soon.
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@lizbethk · 
@firepower. @lizbethk here. So good reading you again here.
👍  
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@firepower · 
Yes, I remember you. 
Good to see you too on Hive! 
Hope things are well. :)
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@lizbethk · 
By the Grace of GOD, they are
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@mauromar · 
I think the actual economic scenario should be suitable for all cryptocurrencies.

I say as Elvis Presley , "It's now or never"
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@firepower · 
True that
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@opidia · 
It is very interesting , i believe more peeps believe in the pumps and it will rise very soon , also because our economy is changing , being in confinement forces people to be online and deal with cryptos more .
Also in Astrology , Uranus entered Taurus , which is a huge sign of economical changes , hence , cryptos .
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@firepower · 
Let's see where things go from here especially with the prevailing global crisis, maybe BTC will outperform other asset classes.
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@opidia · 
we read that it will crash and rise to the moon by 2021 so lets see
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@papilloncharity · 
Amazing history here and well detailed.
For better or worse, time will tell.
Take care!
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@firepower · 
Thanks :) 
Let's see where we go from here.
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@papilloncharity · 
Yep! Only two ways it can go. up or down.
However the history of it's movements might be changed due to the effects of the Covid virus!
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@sanjeevm · 
I have been reading a lot of comments that BTC is going to go through a bear phase for some time and then bull in late 2020 and go to moon ? I am not a crypt expert though, 10 years is a too big time to predict 😀
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@firepower · 
It's not possible to predict prices like that. But the market is trying to push higher, it remains to be seen if we can break over $10000 for starters. Moon is a long time away from current prices. But if you look at the dump in March this year, we're up 100% already.
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@sanjeevm · 
By the way, I requested you do a #meat20 post in my blog.
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@firepower · (edited)
Can you link me to the post. I couldn't find the notification.
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@sanjeevm · 
https://peakd.com/hive-174578/@sanjeevm/meat20-has-life-has-been-a-roller-coaster-ride-since-then
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@tj4real · 
Any price higher than what the normal is for now is welcome provided it comes to be the new normal. Im very bullish about the price action of bitcoin. I think its time we realised some bull run with all these hyper inflations around
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@firepower · 
I'm quite bullish about crypto in general for 2020. Especially some of the majors.
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