Bitcoin is in a new bullish rally

After attempting to break decisively past $10,000 for the second time in a week, Bitcoin was rejected but it still has chances for a new bullish rally.

Bitcoin can climb straight to a new all time high mark after halving, analyst claims.

Five days before halving, Bitcoin seems to be at the beginning of a new bull rally. The capitalization of the main cryptocurrency has already shown a 150% increase after the fall in March.

During the previous halvings observed in 2012 and 2016, the price of Bitcoin rose until the miners’ fees were reduced and fell immediately after its activation. Most analysts predict a correction in the price after the upcoming halving.

Bitcoin has all chances for a long rise after the halving. The first halving led to a stunning growth of 10 000%, while the second halving caused the price to increase by 25 000%.

Based on the analysis of Bitcoin trends since 2012, Bitazu Capital’s founding partner Mohit Sorout said that the new rally will start after reaching $9500.

“The rocket is awake and warming up,” he wrote.

If the correction expected immediately after halving does not take place, it will further inspire those enthusiasts who see Bitcoin as a means of saving during a crisis accompanied by an uncontrolled seal of fiat money.

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