U.Today – Team member Lucie shared an interesting insight into the price trajectory and raised the question of whether the next bull run could be just a few months away.
A “bull market” refers to a market in which prices are rising or are expected to rise. This type of scenario benefits cryptocurrencies, such as Shiba Inu, because Bitcoin’s upward movement tends to push the prices of other cryptocurrencies higher.
Lucie points out that Bitcoin’s history tells an intriguing story about how big bullish moves typically follow halving events, but it’s not instantaneous — there’s usually a waiting period. Historically, such a surge happens around 4 to 6 months after the halving, Lucie noted.
Lucie went on to cite the various Bitcoin halving cycles, such as the one in 2012, where the uptrend took off about a year later. In 2016, significant gains occurred around six months after the Bitcoin halving event, while in 2020, things started to heat up around 5-6 months after the halving.
Bitcoin Market Predictions
The most recent Bitcoin halving event occurred in April of this year. Halving reduces the supply of new Bitcoin, creating a scarcity that often triggers price jumps. Lucie predicts that if history repeats itself based on post-halving outcomes, a Bitcoin price rally could be imminent in the coming months.
Please note that historical performance is no guarantee of future results as the market can be influenced by other factors such as adoption, macroeconomic trends and sentiment.
As reported, CryptoQuant’s head of research Julio Moreno weighed in on Bitcoin’s price performance in the halving years. Moreno noted that bears have so far behaved in 2024 similarly to 2016 and 2020, while predicting a likely Bitcoin price surge in Q4 2024.
CryptoQuant CEO Ki Young Ju shared the same view, noting that in the last Bitcoin halving cycle, the bullish rally started in Q4. Ju presents this possibility for Q4 2024, adding that “whales will not let Q4 be boring with a flat year-over-year performance.”
At the time of writing, BTC is up 1.79% over the past 24 hours to $60,679; the price of Shiba Inu is up 5% in the same time frame to $0.00001433.
This article was originally published on U.Today
