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    [Daily Discussion] Tuesday, May 05, 2020 Bitcoin Markets

    May 05, 2020

    [Daily Discussion] Tuesday, May 05, 2020 Bitcoin Markets

    [Daily Discussion] Tuesday, May 05, 2020

    Posted: 04 May 2020 09:04 PM PDT

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    [Altcoin Discussion] Tuesday, May 05, 2020

    Posted: 04 May 2020 09:05 PM PDT

    Thread topics include, but are not limited to:

    • Discussion related to recent events
    • Technical analysis, trading ideas & strategies
    • General questions about altcoins

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    • All regular rules for this subreddit apply, except for number 2. This, and only this, thread is exempt from the requirement that all discussion must relate to bitcoin trading.
    • This is for high quality discussion of altcoins. All shilling or obvious pumping/dumping behavior will result in an immediate one day ban. This is your only warning.
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    Why Bitcoin will hit 11K in 7 days.

    Posted: 04 May 2020 11:21 PM PDT

    Today we discuss Bitcoin in May.

    I have discussed, Bitcoin Halving in a recent episode but from that episode we concluded bitcoin price action is a result of the halving as well as, "Have the miners priced in the halving?"

    We used historical market data and even went a step further to study market trends in order to predict potential future prices. It was a lot of fun to say the least.

    Based on our analysis, we can only speculate on the price at the time of the halving.

    Our analysis is looking accurate so far based on the two scenarios given during the Ultimate Bitcoin Halving Analysis.

    May is a very important month for Bitcoin as I'm sure most of you know.

    Keep in mind…in roughly 7 days, Bitcoin halving will occur. This will reduce the block reward from 12.5 BTC per block mined to just 6.25 BTC. So, each miner will see their revenue cut in half, at least initially. The drop to 6.25 bitcoin is far more vital this halving than most people understand. This will give bitcoin its boost into the halving.

    Facts to consider…"Have the miners priced in the halving?" This is the most important question when predicating price going into the halving. Which is also related to the downward bitcoin price movement?

    Below is Bitcoin in May price.

    Bitcoin in May (Highest Priced Reached)

    2013: $116

    2014: $456

    2015: $232

    2016: $475

    2017: $2,417

    2018: $9,587

    2019: $8,704

    2020: $11,374 3rd Halving - My Prediction

    Research and analysis of the Bitcoin market tells me…the bitcoin price in May will be very straight forward will be in the $7,400 - $13,000 range. Unless we see another drop in the markets then all bets are off, set those stop losses for $7,400. As it stands now a pump into the halving from now into May 12-16 we get back to $11K - $13K bitcoin. We then dump and fall back down to the $7.8K - $9.2K range as miners adjust to price post halving.

    Whats ahead…Consensus 2020, Ethereal 2020, Virtual Blockchain Week into the Halving. All very bullish events for bitcoin. More Stimulus Checks? Possibly and if so more people will enter bitcoin.

    We have more then enough to get us to 11K

    I run a small newsletter if you like to subscribe you can here at: Thriller Crypto

    Thanks for reading my crazy 11K theory.

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