Analyst CryptoCon argues that crypto investors should review the pre-Bitcoin (BTC) halving behavior to understand how to invest in the current market. Based on previous halving cycles, the analyst expects investors will get the best Bitcoin investment returns at the end of November.
CryptoCon’s thesis is based on analyzing patterns between Bitcoin halving events that reduce the amount of Bitcoin awarded to successful miners. The graphic below shows four curves that track the performance of Bitcoin between halving events.
The orange line depicts BTC performance from when the Bitcoin’network launched to the first halving on Nov. 28, 2012. The pink line covers the period between Nov. 28, 2012, and the July 2016 halving.
The blue line depicts BTC performance between the second and third halving on May 11, 2020, while the green line records Bitcoin’s performance since then.
Recall the next Bitcoin halving will occur in the spring of 2024. The graphs show that the coin’s price follows a cyclical pattern between halvings.
Read more: What is Technical Analysis? Everything You Need to Know
Therefore, it can be assumed that the price of the cryptocurrency will increase before the reduction in Bitcoin block reward next spring. CryptoCon argues that Bitcoin could exhibit positive momentum if it breaks out of a prolonged sideways pattern around Nov. 21, 2023.
Learn how to make money from the Bitcoin halving by using bitcoinlinux’s collection of expert opinions on the basics of the event.
Read more: How To Buy Bitcoin Anonymously (Without ID)
Do you have something to say about the Bitcoin price prediction ahead of the halving or anything else? Please write to us or join the discussion on our Telegram channel. You can also catch us on TikTok, Facebook, or X (Twitter).
The post This Is When Bitcoin’s Price Will Break out Before Halving appeared first on bitcoinlinux.
Go to Source
Author: coinmaker
Key Highlights Coinbase Vice President of US Policy Kara Calvert said more incoming Democrats want…
An individual Bitcoin investor has urged the U.S. Securities and Exchange Commission (SEC) and Commodity…
AI SummaryShowStolen CORE left thousands of users financially exposed, awaiting partial refunds and uncertain future…
Key Highlights Former FBI agent Patrick Steven Yaroch pleaded guilty to wire fraud and money…
AI SummaryShowQ3 2026 revenue rose 51% as HPC leasing surged 774% year‑over‑year, overtaking Bitcoin mining.Lake…
Elizabeth Warren is preparing to take control of the Senate Banking Committee, putting one of…
This website uses cookies.
Read More