...
Bitcoin halvings which have happened before always displayed far-reaching heights, hence the same is expected of the upcoming one.
...
The times that the price has risen dramatically do not coincide with a halving. Doesn't that indicate the price rises are unrelated to the halvings?Bitcoin halvings which have happened before always displayed far-reaching heights, hence the same is expected of the upcoming one.
...
These facts contradict the story of the halving-induced price rises:
The price rise after the 2012 halving started about a year before the halving and ended with a bubble shortly after the halving
The rise to $1000 started six months after the 2012 halving, after a steep drop following the previous bubble. If you attribute the rise to $1000 to the halving, woulding you also attribute the fall from $200 to $70.
The price rise to $20000 started about a year before the 2016 halving and the price actually fell during the month after the halving.
You make a very good point, but we normally see a slight increase in the price about a week or two before the Halving event starts and that might be directly attributed to the media hype that are built before the event happens.
I think people give more credit than credit are due for this event having a significant impact on the price. The impact is much smaller and it only last about 2 or 3 weeks.
Logically, the price has to increase with the halving right?
Halving basically reduces the reward to the miners. If miners are rewarded less then there can be reduction of miners due to maintanince cost and other reasons which in-turn may increase the congestion.
Also, the price increases as the supply is less and demand is more. Halving by halving the supply reduces and demand increases thus, the price hash to increase.
This is as per my understanding. Please do explain if you have other side of looking into the halving.