Bitcoin’s Price History Rings a Bell As It Approaches Halving

(CTN News) – Some troubling statistics about Bitcoin’s recent performance have emerged from a recent tweet by Benjamin Cowen, a prominent crypto analyst with a PhD in engineering.

With the next halving event approaching, Cowen’s analysis has sparked questions about what the future may hold in terms of what the future may hold.

The analyst noted that Bitcoin’s returns in August were -11.31%, which are very close to the average return of the last two pre-halving years at -11.71%, which was the return in August of -11.31% in 2013.

Taking a look at the historical data, he found that the average return for Bitcoin in Septembers in the previous pre-halving years was -17.29%, with an average price of $21,400 during those months.

On the other hand, if we only consider the most recent two Septembers, the losses appear to be less pronounced at -5.66%, with an average price of $24,400 for each September.

There is also another interesting point to be pointed out, which is that in the last 10 years, Bitcoin has only shown profitability twice in September – in 2015 and 2016.

What do you think about Bitcoin’s future?

Based on Cowen’s observations, he believes that Bitcoin tends to exhibit negative dynamics leading up to an event of halving in the near future.

As the next BTC halving is expected to take place in less than 220 days from now, investors are left wondering what impact these historical trends will have on the future of Bitcoin.

In order to make an informed decision, it is important to take into account the limitations of the data in order to make a well-informed choice.

There is a relatively small sample size of pre-halving periods, so it is difficult to predict with certainty whether the negative trends observed in August will continue or not.

However, as of this September, BTC has begun to show bearish trends again, adding to the uncertainty surrounding the future performance of the crypto currency.

Despite the fact that Bitcoin is approaching its next halving, questions still remain about its price trajectory.

SEE ALSO:

Amazon Loses 1 Medical’s CEO a Year After Acquiring It