Published On: Wed, Jul 13th, 2016

Will the Halving Ever Affect the Bitcoin Price, Technical Analysis Thinks So

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A solid rise has made its way into the bitcoin books. Following our previous price piece, bitcoin was hovering around $645 but has now shot up to about $672 at press time.
Also read: Price Report: Bitcoin is Dominating Argentina
The Halving: Possible Bitcoin Price Movements to Come
In a discussion of the recent halving, one source says it best:
“Bitcoin price holds steady, and the reward halving has not seen any surprises in the mining sector. Price seems to be preparing for advance – not today – so, time to do something else than check the Bitcoin price chart like a squirrel for nuts… The ‘halvening’ caused no immediate fireworks, other than the sharp drop a few blocks prior to the event. Yet, we did not see a new low and price is holding a sideways path.”
The halving occurred just a few days ago, and while it did not lead to any immediate results, we still have plenty of time to witness a plausible ascension. At the rate it’s going, bitcoin is likely to experience a period of slow growth; a rise here, a rise there, maybe $5 to $20 each time. This …

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