Here's why crypto analysts tip BTC/USD at US$50,000 next year (spoiler – "halving" coming)

<p>Media reports citing crypto analysts forecasting the leader, Bitcoin, rising in price to over USD50K due to a 'halvening' (some call it 'halving'):</p><ul><li>halvening cuts in half the amount of tokens that Bitcoin miners receive as reward for their work</li><li>this happens every 4 years</li><li>due next around April 2024</li><li>is part of the process of capping Bitcoin supply at 21 million tokens</li></ul><p>The aftermath of the last three halvings saw BTC hit new highs. </p><p>A Bloomberg analyst says:</p><ul><li>“Bitcoin cycles bottom around 12-18 months prior to the halving and this cycle structure looks similar to the past ones, albeit many things have changed — while the network is vastly stronger, Bitcoin has never endured a prolonged severe economic contraction,”</li></ul>

This article was written by Eamonn Sheridan at www.forexlive.com.