Bitcoin will rise further.

Bitcoin is trading at $29,000.
As of 8:02 a.m. on the 1st, Bitcoin is at $29,463, up 0.53% from 24 hours ago on CoinMarketCap, a global coin market relay site.

At the same time, Bitcoin is trading at 39.26 million won, up 0.78% on Upbit, a Korean virtual currency exchange.

Bitcoin has been on the rise for four consecutive months since January this year. This is the first time since rising for the sixth consecutive month until March 2021.

The recent rise in Bitcoin is attributed to the expectation that the U.S. financial crisis will provide a refuge for the dark currency and the Fed's campaign to raise the gold price.

Bloomberg analyzed its own data over the past 10 years and predicted that if Bitcoin rises for four consecutive months, it soared 260% the following year, and that Bitcoin, which is currently about $30,000, could rise to the $100,000 range next year.

In particular, Bloomberg predicted that the Bitcoin half-life is approaching, which is likely to give momentum to the upward trend. Half-life is a phenomenon in which bitcoin mining compensation is halved every four years.

Since Bitcoin was first created in 2009, there have been three half-lives from 2012, 2016, and 2020. Mining rewards per block decreased from 50 bitcoins in 2009 to 6.25 bitcoins in 2020. In the next half-life, the reward will be reduced to 3.125 Bitcoin.

When compensation decreases, the amount of Bitcoin on the market decreases, and the price of Bitcoin rises. The next half-life is in 2024, a year later. Prior to the half-life of May 2020, Bitcoin prices had risen 19% over a 12-month period.

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