Last Time Bitcoin Did This, It Rallied 2,700% In 18 Months As first observed by a trader , Bitcoin is now trading below its production cost despite the block reward halving being 25 days out. The last time this trend happened was in 2016, when Bitcoin traded below its production cost into the halving, then rallied 2,700% to $20,000 in the 18 months that followed. Bitcoin has been skyrocketing over the past few days, and the number one cryptocurrency is currently trading for about $12,965 at the time of writing, the highest it’s been all year. According ... Should Bitcoin soon move above $11,500, the indicator will form a “buy” signal last seen prior to the 80% rally from April to August. Chart of BTC's price action since Feb with a level analysis by crypto trader Big Knife (@Bitcoinbigknife handle on Twitter). News.bitcoin.com reviewed a few of the same countries back in May 2019 and at the time, places like Argentina, Venezuela, South Sudan, and Turkey all saw all-time BTC price highs. In that report ... NewsBTC is a news service that covers bitcoin news, technical analysis & forecasts for bitcoin and other altcoins. Here at NewsBTC, we are dedicated to enlightening people all around the world about bitcoin and other cryptocurrencies. We cover news related to bitcoin exchanges, bitcoin mining and price forecasts for various virtual currencies.
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