The Bitcoin halving is a crucial event for the blockchain ecosystem, as it significantly impacts the start and duration of crypto bull markets. While there may be slight variations in how it triggers each bull market, historical data indicates that it generally adheres to a predictable schedule.
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Bitcoin Pre-Halving Patterns Hint No 2023 Bull Market. Bitcoin Maintaining Historical Trend
According to a chart shared on Twitter by pseudonymous crypto analyst @stockmoneyL, Bitcoin's current pattern suggests that it may follow the previous bull market trends, despite deviating from many historical trends throughout most of the year. The chart indicates that the number of days between the bottom of the bear market and the next halving event has always maintained a reasonably tight timeline. Based on this timeline, if Bitcoin follows the same pattern, the bull market could begin in 2024, with 532 days between the 2022 bottom and the next halving, fitting in with the average 530 days between cycles, after which bull markets have often begun. Bitcoin Pre-Halving Patterns Hint No 2023 Bull Market.
If this plays out in this instance as well, it would invalidate the expectations of a bull market starting in 2023. It then puts the start of the bull market toward the middle of 2024, similar to other bull markets that have begun following the halving event.
Where Does BTC Land In The Bull Market?
Over the last couple of bull markets, the price of Bitcoin has always surpassed its previous all-time high by a significant margin. For example, during the 2017-2018 bull market, the price of the digital asset clocked an all-time high price of $19,000. And even though it was significant at the time, it was nothing compared to the next ATH.
In 2021, at the height of the last bull market, the price of BTC reached as high as $69,000, more than triple its previous all-time high. This trend has always endured through all bull markets and if there is a repeat, then it is possible that the price of BTC will reach $150,000 in the next bull.
Now, the exact time frame for this has varied depending on who the forecast was coming from. However, looking at Bitcoin’s previous all-time high peaks, they happen around a year after the halving and start of the bull market. So in this case, it would put the new ATH for the digital asset in 2025.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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