Halving Proves Prices Stay Bullish

Colin Baseman

The Bitcoin halving is one of the events we have been looking forward to. Now we know the results and how it went. Participants are celebrating and partying – they are sharing their experiences and opinions and post their comments on various sources. Check out multiple tweets and you’ll see how many of them show investors who stay bullish on the BTC price.

The crypto halving was quite successful. Despite all the expectations, it remains bullish. The volatility has increased from five percent to seven percent in each direction and all this has occurred in the past 3 hours. As a result, this led up to block six hundred and thirty thousand.

It was interesting and exciting to watch the digital asset rally. Some of the participants couldn’t hide their emotions and commented on the process. Some remembered to mention the impact that the coronavirus might have made to the trend and the overall situation.

Twitter Reflects and Transmits the Reality

Analysts – professional and amateur alike – did expect the day to be something extraordinary. Their opinions were different and each had his reasoning and explanation. Some believed the halving was priced in and there were a lot of people who never expected to see such an unprecedented rally. Twitter kept exploding with posts and messages. Data providers demonstrated that the last few hours were full of action. The participants noted on the similar rise in the volume BTC. The number of conversations about the event and BTC has increased seventy-two percent. There have never been as many tweets before – today they surpass fifty thousand. In March, there were many talks and discussions – people were trying to make predictions and foresee the results.

BTC as the Leading Asset Class

BTC is the leading digital asset compared to commodities and traditional markets. The cryptocurrency can boast a lower inflation rate than gold. The influencers warned the rest that the coming halving might be relatively brutal. Production costs and current prices keep changing.

Altcoins cannot boast a great performance, though. The reason was the halving event and how much attention it drew. At the same time, Ether dropped by 1,95 percent. Another news that we couldn’t ignore is how much XRP lost – 2,47 percent. Finally, Tezos is at present down 4,80 percent.

The market cap has currently reached two hundred and thirty-six billion USD while BTC dominance rate is now sixty-six percent. It’s essential to learn to analyze the statistics and information of the latest event to figure out how the key market indicators can impact the BTC’s future afterwards. Some believe that the asset will soon go through a great financial upswing.

The mass media get in touch with the leading analysts and researchers to have a better understanding of the current situation. Professionals say that what has been happening in the crypto market in the past two months was exactly what they had predicted. Many have noticed a significant decoupling of users’ interest in crypto. Volatility fears is one of the topics people are actively discussing nowadays. The BTC event has proved that purchasing the crypto asset is a great idea only for people who are willing to ‘hodl’ for a long time. The BTC price soars, which attracts even more investors. Demand is increasing, and in the nearest five years it may reach one million USD. All participants should bear in mind that from May 11 it will be more challenging to mine – BTC is planning to constrict the supply.