Bitcoin Sold $8K Last Halving, Soared 721% After: Will History Repeat?

• Michael Saylor called attention to the $8K price Bitcoin sold during 2020 halving.
• In this year’s halving event, Bitcoin registered an intraday low of $59,651.
• If Bitcoin replicates the 721% post-2020 rally in this cycle, it could reach $489K by next year.

Renowned Bitcoin bull Michael Saylor, chairman of MicroStrategy, has called attention to the price Bitcoin sold when it underwent its third halving cycle. In a recent post on X, Saylor highlighted that Bitcoin traded at $8,618 on May 11, 2020, when it halved. This spotlight comes amid Bitcoin undergoing its fourth halving cycle yesterday night, April 19.

$BTC was $8,618 on the day of the last #BitcoinHalving.

— Michael Saylor (@saylor) April 19, 2024

Notably, Saylor sought to draw public attention to how high Bitcoin has grown since May 2020 amid the emergence of the new event to give investors confidence in the asset considering recent market bearish volatility.

As the Bitcoin bull rightly pointed out, Bitcoin opened for trading on May 11, four years ago, at $8,755.54. Despite dipping to a low of $8,374 that day, it subsequently surged to an intraday high of $9,033.

The post Bitcoin Sold $8K Last Halving, Soared 721% After: Will History Repeat? appeared first on Coin Edition.