The bitcoin price has almost doubled so far throughout 2019 and bitcoin bulls are already looking for the next catalyst to drive the price higher. Now, with the closely watched so-called bitcoin halvening event, where the number of bitcoins awarded to miners for mining new bitcoin blocks will drop from 12.5 Bitcoin to 6.25 bitcoin, just under one year away, some bitcoin analysts are predicting a return to bitcoin's all-time highs could be just around the corner. You generally have a rally a year into [a bitcoin halvening], and a year out of it. Some 12 months after the first Bitcoin halving event in November 2012, the Bitcoin price reached what was then an all-time high of $1,000. Bitcoin bulls and cryptocurrency watchers are hoping that in the run-up to next year's bitcoin halving bitcoin and cryptocurrency holders will be hoarding bitcoin in anticipation the squeeze in supply will push up the price.

Source: Forbes May 23, 2019 07:18 UTC