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Lucie went on to cite Bitcoin's various halving cycles, such as the 2012 halving where the bull run took off about a year later. In 2016, major gains kicked in around six months after the Bitcoin halving event while, in 2020, things started heating up around 5-6 months post-halving. DXY Crash: Why Isn't Crypto Skyrocketing? Shiba Inu Finally Reaches Major Resistance, Is Bitcoin Forming Double Top Pattern?'s most recent halving event occurred in April of this year. Halving cuts the supply of new Bitcoin, creating scarcity that often triggers price jumps. Lucie predicts that if history repeats itself based on post-halving performances, a Bitcoin price rally might be imminent in the coming months.
It should be borne in mind that historical performance does not guarantee future results, as the market might influenced by other factors such as adoption, macro trends and sentiment.As reported, CryptoQuant Head of Research Julio Moreno weighed in on Bitcoin's price performance in halving years. Moreno noted that bears have performed in 2024, so far, similarity to 2016 and 2020, while predicting a likely price increase for Bitcoin in Q4, 2024.
At the time of writing, BTC was up 1.79% in the last 24 hours to $60,679; the Shiba Inu price was up 5% in the same time frame to $0.00001433.Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.
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