There has been a lot of Pessimism about the price of Bitcoin over the past weeks especially with the current global pandemic and its effect on international markets. Many Crypto HODL'ers has gave their honest opinion on the price of Bitcoin after the Halving and it's not surprising to notice their downtrend or bearish predictions.
Others though, believes that there would be a surge and Bitcoin could hit the moon at $18,000, here is why many has predicted the Bull!
At the first Halving of Bitcoin in November 2012, Bitcoin recorded a revolutionary 7,520+ % in price moving from $12 to $1,100. This Bullish trend was seen over a 1 year period at November 13, 2013.
The second Halving occured in July 2016 and Bitcoin had a sharp drop to $600 and after the Halving around December 2017, a Bullish trend was recorded that saw Bitcoin grew up to $19,700+ allowing Bitcoin record it's ATH. Although it didn't take long to see Bitcoin record a strong Bullish trend.
For the previous Halving of Bitcoin, it took nothing less than 3 months to start recording a Bull.
So what would be the effect of the 2020 Halving? Well, nobody can tell for sure but this is what we can expect. There will be a quick uptrend in the price and Bull is expected to hit $9,800 from it's current price today at $6,889 April 22nd 2020, and it would record a sharp Bearish trend and will regain strength at $5,200 for the next few weeks if not month.
My Advice, whatever you do, do not invest more than you can afford to let go within a short time. Bitcoin is here to stay and if you HODL, you win. The price of Bitcoin within the next 12months will relax around $13,000 - $15,000. Have a great time and keep in touch for more summary articles.