Friday, May 7, 2021

Bitcoin Price is likely to Attain New All-Time High after Halving

Bitcoin halving is counting down, and miners are getting reading for the periodic event which the majority of the cryptocurrency enthusiasts expect to trigger the price of Bitcoin.

The same event is also awaited to impact the prices of other digital currencies in the market, due to the sovereignty of BTC over all other coins and the scenarios of the past Bitcoin halving.

In line with the upcoming expectation, Weiss Crypto Ratings, the leading provider of independent, unbiased, trusted ratings of Stocks, Mutual Funds, Cryptocurrencies, ETFs, & Financial Institutions, has shared what the cryptocurrency community should prepare to witness in a matter of months.

In one of its recent tweets, the Crypto Rater asserted that Bitcoin price is likely to attain a new all-time high after the much-awaited BTC halving.

In the tweet, it pointed out that the May halving would trigger a significant Bitcoin price upsurge, which would as well impact other digital currencies. It stressed that it’s likely for BTC price to record new highs.

The Crypto Rater shared this, “The May halving event IS likely to trigger a major new surge in the price of Bitcoin and most other cryptocurrencies. It’s hard to imagine a scenario in which BTC does NOT rise to new, all-time new highs, easily surpassing the $20,000 level”

In the quest to back up its above assertion, Weiss Crypto Ratings shared the impact halving has had on the price of BTC in the past, captioning a chart in the tweet to make it more explanatory.

The crypto rater furthered that what should be the bone of contention is how high BTC would rise as soon as the digital currency starts to react to the effect of the halving like it did in the past.

“Here’s how Bitcoin halvings have impacted the market. So, does the Bitcoin halving help drive prices higher? Absolutely. The only question now is how high will BTC go this time around?”

Bitcoin Halving May Have Been Moved to End of April

According to a widespread report started by a YouTuber identified on Twitter as MaryFox Crypto, Bitcoin Halving may have been moved to April ending instead of the initially scheduled May 2020.

She then shared a website that accurately depicts the countdown to the awaited halving, stressing that Bitcoin miners now mine faster than expected.

She said, “BREAKING: The Bitcoin halving has now been MOVED to the end of April already! Miners are mining faster than expected! Check this more accurate BTC halving countdown.”

Bitcoin price is still stable above the $9,000 support level. This is the support many crypto pundits see as the most important at the moment for its next price uptrend. At press time, BTC is trading at $9,375.41, with a 0.29% price upsurge in the last 24 hours.

Solomon Odunayo
Solomon has a growing passion for writing, this propelled him to keenly work on Eagles News Media for about two years before delving into the cryptocurrency and Blockchain industry he finds more interesting. He worked as a crypto Journalist and Editor at NewsLogical before joining Herald Sheets, owing to the priceless experience he has accumulated since he became a contributor in the crypto community.

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