If History Rhymes Bitcoin Could See a Major Post-Halving Crash

As reported at NewsBTC, “Bitcoin’s highly anticipated mining rewards halving is only eight days away, and cryptocurrency investors have long been debating what the short-term impacts of this event will be.

“In the long-term it is unquestionably bullish due to it causing a 50% annual inflation reduction for BTC, but the short-term impacts are highly speculative, and limited data sets make it hard to look towards historical precedent for guidance.

“One analyst is noting, however, that the event is typically followed by a sharp selloff following its conclusion, a sign that the ongoing BTC rally may ultimately prove to be fleeting.

“Bitcoin’s rally seen in the time following its sharp mid-March meltdown has been attributed by some investors to growing anticipation for the mining rewards halving.

“It is important to note that although this may be a partial cause for the over 100% rebound seen throughout the past several weeks, it likely stems more from the massive technical strength formed as a result of the ‘V-shaped’ recovery seen in the days following its decline to lows of $3,800…”

Read the full report at NewsBTC.