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Bitcoin is at current levels only 50% below the all-time high. This comes after a sudden surge towards the end of October that saw Bitcoin climb to reach $10K. The move marked one of the assets the best day in 2 years. <a href="https://www.cryptoknowmics.com/news/bitcoin-surged-by-40-in-less-than-24-hours-and-china-wasnt-the-only-reason">Bitcoin surged by more than 40% in less than 24 hours</a>. This revived the belief than Bitcoin could post as high gains as back in 2017 in a single day. If this trend was to persist, Bitcoin could reach remarkable positions. One thing that will definitely facilitate this is the upcoming Bitcoin halving.

Many crypto watchers are predicting that at current prices, this is the last time Bitcoin will be trading below $10K. However, we know this is not to be the first time they have made this prediction. The same was said and while it looked real when Bitcoin climbed to reach highs of $13K, the asset would later fall back below $10K. <a href="https://twitter.com/APompliano/status/1190262451717017600">But as the count down to the next Bitcoin halving</a> continues near, there could be some truth to it.

Current sentiments are calling for Bitcoin to reach over $16K before the end of the year. This will position Bitcoin ideally for 2020.
<h3>What To Expect With The 2020 Bitcoin Halving</h3>
Bitcoin halving will have a strong effect come 2020 as its awareness among the crypto community maximizes. One trend will look back to is the two previous halvings that have seen prices soar leading up to the halving. This coming halving will therefore not be an exception and will see prices soar.

Looking to a closely Bitcoin-related cryptocurrency, Litecoin, <a href="https://www.cryptoknowmics.com/news/litecoin-on-bearish-pattern-should-investors-worry-about-bitcoin">we can see what to expect from Bitcoin</a>. Litecoin underwent its halving earlier this year. Leading to its halving, the asset enjoyed a price gain of around 350%. Bitcoin could easily surpass this number since it has higher adoption, market cap, and dominance. If the year turns with Bitcoin around the $16K position this means the halving could boost it and see it climb above $50K. It also means that the prediction that Bitcoin will never drop below $10K again could finally be fulfilled.

Can Bitcoin Halving Influence Another all-Time High?

The Bitcoin halving is now less than 200 days away. The event has historically seen Bitcoin soar high. So, can we expect the upcoming one to do the same?

John is an exceptional writer with a liking on technology, finance and the intersection of the two. A firm believer in the transformative potential of cryptocurrencies and the blockchain. When he is not writing, he likes to listen to Nas, Eminem and The Beatles.

Can Bitcoin Halving Influence Another all-Time High?

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