Bitcoin: Mega Rally in December?

Is Santa bringing Bitcoin a mega rally this year?

Why Bitcoin may be at the cusp of a new rally
In terms of the “BTC rally” narrative, the timing for a new Bitcoin rally makes sense. First, and perhaps most importantly, Bitcoin is currently in a post-halving cycle.

Every four years, Bitcoin undergoes a block reward halving which reduces the pace at which new BTC is mined by 50%.

The price of BTC typically peaked 14 to 16 months after the halving in the past two cycles. Hence, a peak for the next major rally in mid-2021 would be historically relevant.

Second, as Cointelegraph reported, there is a low level of interest coming from the mainstream and new retail investors. The majority of the demand for Bitcoin is seemingly coming from whales, high-net-worth individuals and what analysts describe as ā€œsmart money.ā€

Master Asked on November 12, 2020 in Bitcoin.
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