This is the fifth part of a series “Everything You Need To Know About Bitcoin Halving”. To read the forth part, click here.
There is a lot of speculation among the trading community about the impact of the upcoming halving event on Bitcoin’s price. However, before we dive into the future, let us first examine the past.
How did the halving impact Bitcoin’s price in the past?
The Bitcoin halving has been widely linked as one of the driving factors behind previous Bitcoin’s bull-runs. Although, as we will examine, Bitcoin’s momentum took some time to develop. We will analyze the past performance of Bitcoin before and after each of the previous halving events.
The First Bitcoin Halving
The month prior to the first halving, Bitcoin marked a 15.93% price increase. When the first halving commenced on the 28 November 2012, Bitcoin recorded a negligible gain of 1.75% by the end of that day. However, the following month after the halving, Bitcoin appreciated by 7.86%, and from that day on, Bitcoin started its five-month bull-run. After the third month since the halving commenced, Bitcoin recorded a 174.39% gain, and by the end of the sixth month, Bitcoin’s price skyrocketed from $12.22 to $125.92, recording a 930.40% price appreciation.