With less than one year left before the next Bitcoin (BTC) halving, when the current reward for mining the flagship decentralized finance (DeFi) asset further cuts in half, historical chart patterns indicate optimism could be in order for Bitcoin investors.
Notably, Bitcoin has gone through a halving event three times in its history – in November 2012, July 2016, and May 2020, and price increases have accompanied each of them, according to the data shared by cryptocurrency expert Trader Tardigrade on May 31.
“Bitcoin has entered the final phase before the next halving. This phase is ‘UP-ONLY’ phase, which was test 3 times in $BTC history.”
Halving patterns
Indeed, steady price climbs have both preceded and followed previous Bitcoin halvings, with the exception of a brief decline in 2020 caused by the Covid-19 pandemic but a recovery later on. If history repeats itself this time around, the analyst expects a price of about $50,000 around the halving event itself.
After the hal
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