Bitcoin Halving Cycle Analysis: Will We See a Bull Market in 20 Days?
Bitcoin Bull Market in 20 Days?
On April 19, 2024, Bitcoin miners witnessed their block rewards halve from 6.250 BTC to 3.125 BTC. This quadrennial event has historically sparked a bull market for Bitcoin, stirring anticipation across the crypto community. The price action has been tepid since the Bitcoin halving. Hence, some analysts are calculating when the Bitcoin bull market will start.
Analyzing Historical Patterns
Crypto analyst Quinten Francois has highlighted a consistent pattern in Bitcoin's cycles. He stated that the average Bitcoin cycle begins roughly 170 days after the halving. Currently, 150 days have passed since the Bitcoin halving. Hence, a bullish turn could emerge in about 20 days if trends align with historical data.
Impressive Returns from Past Halving Years
Adding to the bullish sentiment, analyst Lark Davis discusses the impressive quarterly returns in past halving years—2016 and 2020. He points out that the fourth quarter has consistently been bullish post-halving. Moreover, in the years following the halving—2017 and 2021, Bitcoin's price action was bullish from the first to the third quarter of the year.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.