Bitcoin price continues to trade with an advantage to bears but this does not mean investors or miners have capitulated. About 64% of the total Bitcoin mined to date has been dormant in wallets since 2018. This shows that Bitcoin hodlers do not believe in trading for short-term gains, as they anticipate much higher prices in the future. While this might be a feasible strategy for the whales, retail traders can rake up profits if they buy during periods of deep distress and sell their positions during times of euphoria.
One of the events that many hopeful investors are anticipating is Bitcoin’s block reward halving in May 2020. However, Jason Williams (NYSE:WMB), co-founder at digital asset fund Morgan Creek Digital, believes that the halving will be a non-event that will not affect the price of Bitcoin. While a few analysts share Williams’ view, others believe that history will repeat itself and the price of Bitcoin will surge as the halving occurs.