Monday, May 10, 2021

Now is the Best Time to Buy Bitcoin –Morgan Creek Co-Founder Reiterates History

The much-awaited Bitcoin halving is close by. It’s scheduled to hold in May 2020. This is the event most Bitcoin investors and traders have been anticipating. Its historical and favorable end product makes it a very popular event.

It is generally believed that BTC usually experiences significant price uptrend some months before and after halving. This has brought the recent tweet of a Morgan Creek Digital co-founder, Jason A. Williams, as he reiterated history, informing the crypto community that now that Bitcoin is closer to be priced below $8,300 is the best time to buy the cryptocurrency.

He pointed out that 4 months before the first halving in 2012, Bitcoin price experienced a significant uptrend from $10 to $14. He also informed that such price action played out four months prior to the second halving in 2016. Back then, BTC skyrocketed from $432 to $700.

He said “Bitcoin Halving News – In the four months prior to the 1st halving in 2012 BTC rallied from $10 to around $14 by the time of the event; In the four months prior to the 2nd halving in 2016, Bitcoin went from $432 to $700. BTC going into Feb at 8320. Buy?”

The majority of the present members of the crypto community were not in the system during the first and second Bitcoin halving. So, everyone somewhat keeps calm to witness how things unfold.

Some analysts have many times claimed that Bitcoin halving has already priced in, claiming that the cryptocurrency community should not expect a big impact on the part of the much talked about and anticipated event, while some others keep claiming otherwise.

Bitcoin has once again surged above $8,300 price level, the support it reportedly lost a few hours ago. At the time of filing this report, BTC is trading at $8,338.54, with a 0.16% price uptrend 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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