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Bitcoin Halving Effect: Mining Revenue May Fall by $3.1B

With three months to go until Bitcoin‘s third halving, the entire crypto-community is anxious about what might happen to the king coin’s price post the big event. There have been many narratives spun around the same for some time now; while some argue that Bitcoin is priced in for the halving, many say otherwise.

A recent report by cryptocurrency exchange Kraken analyzed previous Bitcoin halvings and presented its predictions for the 2020 halving. According to the same, history showed a trend of bull runs taking place around halving events. It noted that the two previous halvings demonstrated a 2-year uptrend in Bitcoin’s price beginning 12-18 months prior to the halving, followed by a roughly 80% peak-to-trough downtrend.

Bitcoin Halving Effect

The attached chart shows the relative price peak from the first halving to the second halving. It can be seen that after the first halving in November 2012, the price reached $1,151 in December 2013 almost one year after the halving event. Similarly, after the second halving in 2016, the price reached $19,499 in 2017, again after almost exactly one year to the halving event. Read More...