Before the third halving Bitcoin presents fresh opportunities for individual investors and affiliates.
Bitcoin is currently the blockchain coin that is directing the market trends. Over the past few weeks, we have been observing a rapid fall in value, and many Bitcoin holders are starting to question their investment.
In this article, we go through the Bitcoin trends and future predictions, such as the announced of Bitcoin-halving in May 2020 and other foreseeable events until the end of the year.
We also explain how to accumulate digital assets with Skrill and Neteller, so that you have your crypto always at hand and can turn it into fiat currency instantly.
This moment also presents an opportunity for Skrill and Neteller affiliates, who focus on the crypto vertical to escalate their business.
Bitcoin has had a turbulent journey during the last 12 months. Beginning of march last year, Bitcoin valued around 3,474 EUR (March 10, 2019), but then peaked at 11,220.5 EUR at the beginning of July 2019 (July 9, 1029).
Source: Bitpanda
Its value has been dropping since July 2019, hitting another low at 5,960 EUR on December 17, 2019. From then, it was like a prolonged Christmas time to Valentine’s Day, when Bitcoin reached the price of 9,579 EUR.
On March 9, 2020, the price is at 6,808 EUR for Bitcoin, a 25% drop in value in less than 30 days.
There are several reasons for such a drastic down trajectory during the last month. Explanations for Bitcoin dropping below 7,000 EUR are varied and complex but can be summarized through three significant narratives.
Technical analysts are arguing that the recent Bitcoin price drops are normal market behavior. After the last Bitcoin price peak, the drop is a price readjustment. However, scanning to the published opinions during the past weeks, no one has predicted that the price will fall below 7,500 EUR.
At the current situation on March 9, analysts are speculating whether the price will drop below 6,000 EUR.
According to Forbes, the downtrend is a result of the global health crisis caused by the coronavirus.
“Bitcoin and the wider cryptocurrency market crash comes as global stocks go into meltdown due to the coronavirus spreading around the world.”
Cointelegraph is providing another supporting argument, claiming that crypto exchanges and blockchain technology firms have felt the impact of the COVID-19 epidemic, resulting in decreased staff numbers.
“Employees at Chinese companies responsible for mining have been forced to stay at home or trapped outside of cities as quarantines are enforced.”
Bitcoin halving is scheduled for May 18, 2020. More than two months before the halving, traders are playing it tactically, waiting for Bitcoin to drop, before increasing the price through high demand.
“Bitcoin price rallies to some extent, and then a relentless selloff begins as the informed traders who were waiting all along for the right moment, go in and initiate a hard selloff that burns fingers all the way down,” explains Michael Kuchar for FX Empire.
Bitcoin is not the only cryptocurrency, drastically losing value. None of the crypto assets has been bringing profits to recent investors. All major cryptocurrencies have been on a downward trajectory for the last 30 days.
Source: Bitpanda
The first rule for every crypto investor is not to panic. If you bought your Bitcoin, Ethereum, Litecoin, Ripple, Miota, or any other crypto at the beginning of February 2020, the value of your assets dropped substantially, in case of Bitcoin for 25 percent. Selling your assets or trading them at this point will leave you with a definite loss.
“When the price of Bitcoin goes down, and you watch all of your cryptocurrency holdings lose their value, it’s hard to remain calm. When the market gets bloody, you might even be wondering if Bitcoin will ever go back up again.”
The big date in the 2020 crypto calendar is the Bitcoin halving, scheduled for May 18.
“After every 210,000 blocks, Bitcoin goes through a process called halving,” explains Rajarshi Mitra at Blockgeeks.
“After a protocol goes through halving, it cuts the supply of new Bitcoins in half, halving the miner’s block production rewards, as well.”
It is essential to understand that the rewards for miners will be halved as well, so they will receive 50 percent less than before halving. Currently, mining rewards are at 12.5 BTC. After the halving, miners will be entitled to a 6.25 BTC reward.
Until now, the majority of blockchain experts are confident that the Bitcoin halving will result in price-rise. However, the primary division among the experts is what that price will be? Can we expect the same price rise as after 2012 or 2016 halving?
Firstly, we need to understand the dynamics after the first and second halving.
| Price 90 days prior halving | Price 60 days prior halving | Price on the halving day | Price after 150 days | Price after 1 year | |
| 2012 |
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| 2016 |
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| 2020 |
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| ? | ? | ? |
Considering previous dynamics, analysts are confident that halving will result in long-term price rise, but predictions are on the increase scale range from a few percents to reaching 20,000 USD by the end of the year.
However, in comparison to the first and second halving, the third halving is happening when:
Skrill and Neteller are two popular ewallets that are used on a variety of trading platforms and developed their own crypto service. Account-holders can buy interest within their account by exchanging fiat currency for crypto.
We might see an increase of personal Skrill and Neteller account opening in the final days before the halving due to affiliates pushing promotions for easy and straightforward acquisitions of Bitcoin. You can turn your ewallet savings into Bitcoin in no-time. As the buzz around Bitcoin will rise towards May, this is a narrative that Skrill and Neteller affiliates can pick up.
Yes, Bitcoin is currently on the downfall, but its future looks bright. At the moment, it remains unclear whether the value after halving will substantially rise as in 2012 and 2016. But, one thing seems to be very certain, Bitcoin will shape the future of trading and provide profits for the long-runners.
