Hello!
40 days to go for Bitcoin halving. I was wondering if I HODL enough or have to buy more before the expected date arrives. For this I have looked at the 2 previous halving events:
- The first took place on 11/28/2012 and the second 7/9/2016.
- At the time of the first halving, BTC was around 12$ and at 650$ at the second.
It seems that the price of BTC over time keeps rising and that halving events are major events in terms of price movements. I've found a really nice graph of the supply and the inflation rate at which BTC is created.
Source BitcoinBlockHalf
With an easy economic principle of supply/demand/price one can say that:
-Given the same demand over time and the new supply cut at half it is likely that the price will raise. It is a really simplistic approach but it worked in the past, and I still think that it will keep working in the future.
I will like to HODL a whole Bitcoin as soon as possible and maybe I will buy some in the next days. I am expecting a correction below the 5K to make a move, if not I will keep dollar cost averaging until I get 1 BTC.
Exciting times ahead! Enjoy!😊
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