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With the next BTC halving 2020 event just 5 months out, the Bitcoin price might be a long way off its 2019 high of almost $14,000 but this year has still seen the BTC price gain 94%.
The year opened with the leading cryptocurrency trading at just below $3,800, considerably less than its current price of around $7,300.
Although yearly price data is clearly limited, if previous years are anything to go by Bitcoin (BTC) looks set to post two more years of gains.
There seems a pattern emerging that sees a year of decline follow three years of upside.
Some traders and market analysts believe that the next halving will result in another parabolic run up in Bitcoin prices, like those seen in 2017 and 2013.
PlanB argues that the reduction of new Bitcoin regularly hitting the market will eventually see the price rise to around $55,000 per Bitcoin.
The analyst makes no prediction as to when this will occur. However, given that the stock-to-flow theory of Bitcoin’s value centers around the halving events every four years, if PlanB’s prediction comes true, we will see a $55,000 Bitcoin at some point within the four years following May 2020.
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DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.