The upcoming halving of the Bitcoin cryptocurrency network has long been considered an immediate boost that will give us a new bull market. However, will this actually be the case? If history repeats itself, this event will be the catalyst for another huge price increase that will see BTC reach the $20,000 level again, followed by a new ATH. Bitcoin in accumulation phase Some analysts are of the opinion that BTC is now entering an accumulation phase that will precede the halving and could help accumulate fuel for a new bull market. The above sounds soothing especially after yesterday. Overall over the past month, Bitcoin has fallen yen into a downtrend. Eventually, the price of the cryptocurrency even chafed against $6800 on some exchanges. The current downtrend (it is difficult to clearly answer the question whether it is still continuing) may also prove to be an ideal opportunity for long-term investors to accumulate as many cryptocurrencies as possible in anticipation of the increases that will occur in some time as a result of the aforementioned distribution of the reward for digging a new block in the BTC network. Alistair Milne, a well-known cryptocurrency investor in the market, explained in a recent tweet what he thinks about the current situation: "Things I expect to happen in the next 4-5 months due to the impending halving [of the reward on the network] of Bitcoin: BTC shorts are closing; people are hoarding BTC again; miners are starting to raise funds; insufficient performance of altcoins [that are] trading for BTC; bulls are driving the price up." What's next for the price? It looks like bitcoin will end 2019 in more of a downtrend. However, in a few weeks we will probably find out if the cryptocurrency market will regain its former momentum and we will see intense green again on exchanges. You can always check the current rate of bitcoin and other cryptocurrencies in the tabs: bitcoin rate and cryptocurrency rate at bitcoin.pl. Places where you can buy Bitcoin and other cryptocurrencies include BitBay.net cryptocurrency exchange. If you don't have an account on BitBay yet, this article will show you how you can create one efficiently: LINK. Tags bitcoin price btc price bitcoin exchange rate bitcoin exchange rate btc exchange rate
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