2012 was the last time the price of bitcoin closed 7 consecutive months higher as it is currently doing.
Bitcoin about to break a new record in 12 years: the bullish rally is in its seventh month
Yeah Bitcoin ends above US$61,000, will register 7 consecutive months of increase, something that only happened once in its history and that was no less than 12 years ago. The possibility of achieving this achievement seems high because, two days before the end of the month, it remains at US$70,000.
March: How Bitcoin Fared
This month it set new historical records up to US$73,000 and has accumulated an increase of 13.5%. In this way he achieved a milestone: he reached a record in the run-up to the halving and not in the following months.
Furthermore, its price rose almost 200% in the last seven months since September when it was listed at US$25,000.
Halving: what to expect
The halving is the moment when the issuance of Bitcoin is reduced by half and happens every four years. The first halving, in 2012, changed the payment per block to 25 bitcoins. In 2016, it reduced it to 12.5 bitcoins. In 2020, it dropped to 6.25 bitcoins and this year, in 2024, it will split to 3.125 bitcoins.
The bitcoin halving is important because it determines the amount of bitcoins that are put into circulation, It is the monetary policy that governs this system. That is, it controls the amount of cryptocurrencies that can circulate freely in the market.
The first halving occurred in 2012when BTC was worth around $25. A year later, its price rose to $1,003, a revaluation of more than 8,000%. The halvings of 2016 and 2020 represented, 12 months later, gains of 284% and 423%, according to data from CoinLedger.
Their calculations project a 420% rise for BTC after this same event occurs in April, which would lead the ‘crypto’ to exceed US$360,000.
Source: Ambito
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