Bitcoin halving will take place sometime in May. Xangle published special report about what happened on-chain after the previous BTC halvings.
- A review of the recent BCH halving (April 8th)
- Previous BTC halving events; Attend closely to BTC hashrate
- Short collection of what named figured in crypto said about the upcoming halving
- ...and more!
According to crypto disclosure platform Xangle, crypto investors should pay close attention to Bitcoin’s hashrate as the halving event is just around the corner - especially since previous halving events show that price follows hashrate.
Xangle report states that Bitcoin hashrate has increased by more than 19,766% in a year since its first halving event in November 28, 2012. Price soared after, gradually increasing by 8,069%. The second Bitcoin halving in July 9, 2016 showed similar results – its price (+284%) followed the hashrate (+248%)
For such reasons, we must attend closely to BTC hashrate. However, this time there are several unexpected variables that might affect the upcoming hashrate, including the coronavirus (hashrate has decreased by 24% already).