As a seasoned crypto investor with over a decade of experience in this dynamic market, I find the recent analysis by Shiba Inu marketing lead LUCIE quite intriguing. Her observation of historical Bitcoin post-halving rallies and the potential for another bull run around October 2024 resonates with my own observations.
Lucie, Shiba Inu‘s marketing expert, has added her thoughts to the ongoing discussion about when the full-fledged Bitcoin bull run might start. She refers to the traditionally strong post-halving rallies that have sometimes signaled the beginning of a new bull market. Based on past performance, it appears that the market may be gearing up for another significant bull rally following the halving in 2024.
Mapping The Bitcoin Post-Halving Rallies
As an analyst, I recently noticed a post on the X (previously Twitter) platform by Shiba Inu marketing executive Lucie, where she shared her insights with her 144,000 followers regarding when we might expect the next Bitcoin bull run to commence. The post draws parallels between previous bull cycles and the timeframes it took for the rallies to kick off following each Bitcoin halving event.
Initially, after the initial halving in 2012, it took nearly a year for a decrease in supply to cause an upward trend in Bitcoin’s price. This prolonged bullish market propelled Bitcoin’s price to unprecedented record highs. Interestingly, something similar happened in 2016 as well.
In simpler terms, the Bitcoin halving that occurred in 2016 signified a quicker transition into a bull market compared to the one in 2021. The rise in price following the 2016 halving commenced only six months afterwards. Likewise, we can expect a similar pattern in 2020, with the Bitcoin price likely to increase around five to six months post-halving.
Based on historical patterns, we’re looking at approximately a few months before October 2024 for the beginning of the next Bitcoin bull market. This estimation is derived from an average timeframe of six months following the Bitcoin halving, which occurred in April 2024.
Nevertheless, the marketing head of Shiba Inu cautions investors that the price isn’t always predictable due to various other influencing factors. “Market fluctuations are driven by numerous elements such as adoption, broader economic trends, and general sentiment, but the consistent pattern is notable,” she summed up.
CALM DOWN
Is the Next Bull Run Just Months Away?
As an analyst, I find the history of Bitcoin intriguing: significant price rises have typically followed its halving events; however, this isn’t immediate – there’s usually a delay. Looking at past trends, it appears that such growth spikes tend to occur around 4-6 months following the halving event.
— 𝐋𝐔𝐂𝐈𝐄 (@LucieSHIB) August 22, 2024
BTC Bull Market Could Push For New ATHs
Although a significant market drop occurred in early August, the current Bitcoin price remains substantial enough that a 30% increase would establish a new record high. If the Bitcoin price continues at this level and the anticipated bull run starts later this year as forecasted, reaching a new all-time high is a possibility.
Currently, as I’m typing this, Bitcoin’s price remains above $60,000, having dropped by 1.72% over the past day. Yet, it has managed to rise by 5.58% over the last week.
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2024-08-23 16:12