Crypto Investor Urges Consumers to Accumulate Bitcoin Before Halving, Rally Expected?

February 5, 2019 BitcoinTalkRadio 0 Comments

Story by: NICK CHONG

Bitcoin (BTC) and other crypto assets may be nearing their one-year lows, but copious amounts of optimism still exist in the minds of believers the world over. Case in point, while many analysts are unfaltering in their belief that lower lows are inbound, with even one short-term sardonic commentator calling for a $1,700 BTC, hope has persisted.

Almost as if they’re grasping for a light at the end of a tunnel, diehards’ hearts have remained ablaze, as they await key industry events that could push this market higher, all while marshaling adoption.

Do You Even Crypto?

Capitulation has become an industry theme in recent weeks. Liqui, a crypto exchange based out of Ukraine, folded entirely, while a number of notable industry startups, participants, and groups divulged that they had been subject to a bear market-induced pressure.

Yet, a number of sector commentators claim that now isn’t the time to capitulate, but to accumulate BTC in anticipation of the next parabolic rally. Through the use of a long-term chart, PlanB, a leading Bitcoin researcher and chartist, noted that as Bitcoin is fifteen months away from its block reward reduction, the so-called “halvening” or halving, there should be a renewed cause for optimism.

Couple this with the fact that the leading blockchain underwent a -25% difficulty adjustment, seemingly a sign of a bottom per PlanB’s historical charts, and it seems that BTC is cooking up a recipe for success.

Although some could argue that historical analysis is baseless and unwarranted, especially considering that the cryptocurrency space is extremely nascent and unpredictable, others quickly picked up PlanB’s torch.