With the Bitcoin halving approaching, the cryptocurrency market is once again experiencing a surge in excitement. However, historical data tells us that the market situation before and after halving events is not always ideal. By analyzing the data from previous halvings, we can uncover patterns and insights.
The first three halvings of Bitcoin occurred on November 28, 2012, July 9, 2016, and May 11, 2020. To better understand the impact of halving events on the market, we have chosen several mainstream cryptocurrencies, including BTC, ETH, LTC, XRP, and BCH, for analysis.
BTC Halving Market Review
Using the halving day price as a benchmark, we have analyzed the price trends of these tokens 60 days, 30 days, and 7 days before and after the halving. In the second Bitcoin halving, we observed that all tokens showed a certain degree of upward trend before the halving period. However, after the halving, most tokens started to decline.
The situation was similar in the third Bitcoin halving. Although there was a significant drop in prices during the 60 days before the halving, overall, the tokens still maintained an upward trend before the halving period. And even after the implementation of the halving, the upward trend continued despite changes in the market environment.
LTC and BCH Halving Market Review
For Litecoin (LTC) halving events, speculation often occurs ahead of the actual halving, and prices tend to show a continuous decline before and after the event.
Looking back at the BCH halving in 2020, we can see that the speculation surrounding BCH started much earlier and more vigorously. The price of BCH started to rise approximately 100 days before the halving and reached its peak before the implementation of the halving. However, compared to Bitcoin, there was no significant increase in BCH prices after the halving.
Based on the data analysis above, we can conclude that the speculation surrounding halving events often begins 2-3 months or even earlier before the actual event takes place. And after the halving is implemented, the market does not experience a significant short-term increase. On the contrary, there is often a “sell the news” situation.
Learning from the past, 3EX AI Trading reveals future patterns through historical data
In the cryptocurrency market, historical data provides valuable reference points. The 3EX AI Trading platform, based on ChatGPT technology, allows users to easily create and execute quantitative trading strategies through natural language processing, making personalized trading possible. Users can analyze the historical data of previous halving events on the 3EX AI Trading platform, learn from the past, and utilize the power of AI to develop efficient and applicable trading strategies. The 3EX AI Trading platform can also automatically execute trades, greatly reducing operational complexity and time delays, and improving trading efficiency.
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