The price of Bitcoin during the halving
The price of Bitcoin during the halving
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The price of Bitcoin during the halving

By Federico Izzi - 11 May 2020

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While waiting for the halving the price of Bitcoin has seen all day long moments of extreme excitement. After a long wait, the highlight has arrived. At 9.23 PM (CET) today, May 11th, the block number 629,999 was mined, which produced the last reward in history with 12.5 BTC. The block, as it happened on January 3rd, 2009 contains a direct message to what is happening in this period.

 The message refers to The New York Times of April 9th, 2020 with the injection of $2.3 trillion, the Fed’s plan that exceeds the 2008 rescue plan, with a reference to the message reported in the base code of the first genesis block inserted then by Satoshi Nakamoto. The phrase became famous and remained engraved in those who follow the Bitcoin’s vicissitudes.

The third halving anticipated what were the estimates which saw the halving itself occur in the following hours and in any case by tomorrow’s day.

As for prices throughout the day, there were no particular movements except during the first part of the day, which saw a movement that in just over two hours pushed prices to hit a high in the area of $9,180 and then fell an hour before the halving to $8,200

price bitcoin halving

 

During the minutes around 9:23 PM (CET), prices fluctuated around area 8,500 and then began an intraday mini-rally which right now is bringing prices just over $8,760

These are the reports of these hours. 

It will be necessary to understand in the coming hours and days what will be the effect that will also have repercussions for what will be the decisions of the pools of miners who will remain active or not and the impact that this will have on speculation and price. 

 

Federico Izzi
Federico Izzi

Financial analyst and independent #trader – S.I.A.T. & Assob.it partner. He operates actively on stock and derivatives markets (futures and options) since 1997. A precursor of cyclic-volumetric analysis he is known for having identified the most important upward and downward movements in the financial markets of recent years. He participates annually as a speaker at the ITForum in Rimini since the 2010 edition and InvestingRoma and Napoli since the first edition of 2015. He is a guest and market expert on the "Trading Room" and "Market Driver" broadcasts of Class CNBC, Borsa Diretta.tv and on the evening news of Traderlink. Since July 2017 he is a permanent guest on LeFonti.TV, the only weekly national space dedicated to cryptocurrencies alongside the most important international experts in the field. He was interviewed as a cryptocurrency expert for Forbes Italia, Panorama, StartupItalia and DonnaModerna. He was recognized as the first Italian technical analyst to have published the first secular cyclic analysis on Bitcoin. Periodically publishes articles on ITForum News, Sole24Ore, MILANOFINANZA, TrendOnLine and Wall Street Italy. Federico Izzi is... "Zio Romolo".

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