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Bitcoin’s trend has never been this weak before halving: Should bulls be worried? Bitcoin’s trend has never been this weak before halving: Should bulls be worried?

Bitcoin’s trend has never been this weak before halving: Should bulls be worried?

In approximately 30 days according to estimates, Bitcoin will see its next block reward reduction or “halving,” in which the number of coins issued per block will get cut in half from 12.5 to 6.25.

Bitcoin’s trend has never been this weak before halving: Should bulls be worried?

Cover art/illustration via CryptoSlate

In approximately 30 days according to estimates, Bitcoin will see its next block reward reduction or “halving,” in which the number of coins issued per block will get cut in half from 12.5 to 6.25.

Although halvings have traditionally been seen as an extremely positive event for the Bitcoin market, the past few months have seen the cryptocurrency slump from a macro perspective, with BTC trading a mere six percent higher since the December bottom of $6,400.

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