Bitcoin News: BTC to Rally $10,0000 before Halving🚀

• Last week, we saw Bitcoin (BTC) prices jumping almost 20% contrary to the traditional markets soaring down.
• Bitcoin marked $9,000 level last week which was the first time since late February 2020.
• The community is all set to ride the upcoming bull ride and feel that something solid is nearing.

BTC to Rally 🚀 $10,0000 before Halving

With the much-awaited and anticipated event of the Bitcoin Community, The Bitcoin Halving- 2020 Edition nears, community, and market have already started acting impulsively. Some of them feel markets moving beneath them and suspect a solid Bitcoin bull run nearing.

Now as we see skeptical trade volumes on each and every crypto exchange, some of the experts believe that Bitcoin would explode even before the halving. One of the trusted crypto analysts who's been watching markets closely thinks that it will touch the $10,000 figure before the halvening event which is taking place on the 12th of May.

This prediction is made by Mr. Simon Peters, a bitcoin and cryptocurrency analyst at brokerage eToro. He acclaims that there would be an intense activity in the market before the halvening especially among the bullish investors who would be pouring loads in the BTC before the prices skyrocket.

History Depicts Halving leads to Bitcoin Price Rise

Past data and analysis of Bitcoin Halving events show that markets have always favored Bitcoin halvening and Bitcoin prices skyrocketed after previous halves were being effective. Thus, this time also analysts and crypto trading kingpins are bullish of the event occurring in ten days and are setting up themselves to make the most out of it.

[Source: coin360.com]

Bitcoin Halving is the event in which the block confirmation rewards are literally cut down by 50% and for this time, when the networks are awarded 12.5 BTC for confirming a block, they would get 6.25 now. Bitcoin halving is scheduled to occur once every four years before the network produces a cumulative supply of 21 million Bitcoins, which is impossible to occur before far into the coming century.

"We assume it can comfortably challenge the previous highs of over $19,000 in order that investors try safe-havens away from their conventional investments, as to the degree of which it will increase over the long term in the light of weakening economic outlook for the US economy and the possibility of growing monetary supply," says Peter.