The approaching reduction in mining rewards has long been seen as a fundamental event that will help strengthen the asset trend and serve as a catalyst for significant growth.

This opinion is rooted in the historical dynamics of the BTC exchange rate before and after previous halvings, as volatility favorable for the bulls was observed in the leading cryptocurrency market.

However, what is happening in the industry is an unprecedented event. For the first time in history, Bitcoin is in the red zone of the 90-day period before halving.

Interest in BTC halving is at historic highs

Miner rewards will be reduced in about 25 days - May 12. After this day, annual cryptocurrency inflation will decline from 3.65% to 1.8%.

Halving is a key factor in the deflationary nature of Bitcoin, it emphasizes the importance of its existence amid the endless press of fiat money and inflation.

In view of the development of the global economic crisis and the fundamental strength of the BTC halving, the upcoming event attracts increased attention.

According to Google Trends, interest in information on the request for “bitcoin halving” is already at a historic high. Moreover, the continuation of this trend is forecasted.

Unprecedented dynamics of BTC during the pre-halving period

Historical facts and current investor interest signal that the upcoming halving should strengthen the bullish sentiment in the market. However, it is important to note that the current price dynamics of Bitcoin in anticipation of this event is unprecedented, which implies a possible disappointment of the bulls in 2020!

Messari analytics spokesman Jack Purdy released statistics,according to which Bitcoin is for the first time in the red zone in the 90-day period before halving.

Less than a month is left before the halving, we are for the first time in the zone of loss of the 90-day period.

           Comparison of the dynamics of BTC 90 before and after halving

Purdy added that the Bitcoin exchange rate has not practically changed from the beginning of the 365-day time period to halving. For comparison, in each of the past similar periods, the leading crypto asset more than doubled in price:

This may mean that the previous bullish periods before and after the halvings were due to the general upward macro trend of Bitcoin, and not to the event of a reduction in rewards.