Effect of halving of Bitcoin production on price in USD.
Chart:
So I did a comprehensive chart of BTC on Trading View using Brandon Kelly's latest video as instructions (www.youtube.com/watch?v=3Kc6zvOQ...). I have put 3 vertical lines in, one for each halving (2012-11-28 and 2016-07-09) and one for the upcoming soft fork on 2017-08-01. I have also put a number of trendlines on, intersecting every time the 7 (green) and 21 (red) day trend lines cross the 77 (orange) day trend line. The angle is the last two 77 day touches. The two purple ones predict exactly the value of the 7 and 21 day trend lines on 2017-06-26. They are from 77 day trendline crosses on 2014-11-30 and 2014-12-12 :-)
The reason why I made the chart was to see the effect of the halvings. It's apparent the first one resulted in a rally shortly after. For the second one it's apparent there was a rally shortly before. The people buying BTC are still practicing? ... :-)
So I did a comprehensive chart of BTC on Trading View using Brandon Kelly's latest video as instructions (www.youtube.com/watch?v=3Kc6zvOQ...). I have put 3 vertical lines in, one for each halving (2012-11-28 and 2016-07-09) and one for the upcoming soft fork on 2017-08-01. I have also put a number of trendlines on, intersecting every time the 7 (green) and 21 (red) day trend lines cross the 77 (orange) day trend line. The angle is the last two 77 day touches. The two purple ones predict exactly the value of the 7 and 21 day trend lines on 2017-06-26. They are from 77 day trendline crosses on 2014-11-30 and 2014-12-12 :-)
The reason why I made the chart was to see the effect of the halvings. It's apparent the first one resulted in a rally shortly after. For the second one it's apparent there was a rally shortly before. The people buying BTC are still practicing? ... :-)
Kommentar:
One thing I missed in the initial description is that it takes a year for the halving to take effect in the form of a massive spike. Then the next 3 years until the following halving there is a drop and gradual start to the next rally triggered by the halving. We are at the peak after the 2016 halving, there will be a big drop to the one in 2020.