Bitcoin is now roughly 100 days away from its next halving

Bitcoin is on the downhill stretch to its next halving event.

If you are not familiar, the word "halving" applies to the block reward halving that takes place every 210,000 blocks, or roughly every 4 years on the bitcoin network.

It cuts the rewards produced within each block in half.

The current reward per block is 12.5 bitcoin, which will be cut in half at the next halving down to 6.25.

The projected halving date is May 12th, 2020.

Which means the next halving date is right now 100 days away:

(Source: https://www.bitcoinblockhalf.com/)

What is going to happen?

Historically, the halving event has been extremely bullish for bitcoin.

With a price run-up prior to and after the halving event.

The post halving rally is much larger and has taken the price to new highs each of the past 2 times.

If history were to repeat again, we can expect to see bitcoin make new all time highs several months after the next halving.

With some projections showing the possibility of prices significantly higher than the previous highs.

I have no idea whether the same pattern will be seen yet again, but so far, things are right on track to repeat yet again:

(Source: https://twitter.com/100trillionusd)

The most likely pattern?

Looking at the previous patterns, the most likely pattern would play out something like this...

A rally prior to the halving, which we are likely seeing right now.

Followed by a decent sized pullback prior to the halving.

Then a run-up into the halving, followed by a larger pull back post halving.

This pull back will last for several months from peak to bottom and will be the last opportunity to buy bitcoin at a decent price before the parabolic run starts.

The parabolic run will last for multiple months and eventually peak in mid to late 2021.

There's your playbook... now figure out how to best take advantage of it.

Stay informed my friends.

-Doc