Will pre-halving accumulation bolster BTC’s price action?

This current downtrend may prove to be an ideal opportunity for investors to accumulate the cryptocurrency in anticipation of a halving-induced rally, with this retail buying potentially providing fuel for the next uptrend.

Bitcoin’s upcoming mining rewards halving has long been looked upon as the most immediate impetus for the next BTC bull run, and the hopes that have been pinned on this event have only inflated in recent times as the cryptocurrency remains caught within a firm downtrend.

If history repeats itself, this event will catalyze the next major upswing that brings Bitcoin back up towards, or above, its previously established all-time highs.

BrozBot analyst explains:

“Things are expect to happen over the next 4-5 months due to the impending Bitcoin halving: – BTC shorts close out – People re-accumulate BTC if they had sold – Miners start to hoard (e.g. borrow USD against assets) – Under performing altcoins sold for BTC – Bulls lever up.”

It does appear that Bitcoin will end 2019 on a bearish note, but only time will tell as to whether or not the crypto will be able to gain the momentum that is largely anticipated to come about as a result of the halving that is looming on the horizon.