Amidst the anticipation of the upcoming Bitcoin halving, which typically leads to price surges, Shiba Inu team representative Lucie suggested the possibility of a significant bull run for SHIB, fueled by Bitcoin’s market fluctuations.
Lucie presented a graph indicating that during each market cycle, there was a recurring pattern of prices hitting a low point and then being bought up again before rising significantly – a prelude to a bull market. This pattern is evident in the current market cycle as well, with prices dipping and being bought back up, marking the early stages of the bull run based on Lucie’s chart. There’s still potential for further growth according to her analysis.
According to Lucie’s perspective, the Shiba Inu community should broaden their viewpoint. She is convinced that the current price trend for both Bitcoin (BTC) and Shiba Inu (SHIB) is leading towards a supercycle. The years 2024-2025 are predicted to be particularly intriguing in this context.
Bitcoin’s halving process, happening approximately every four years, serves as significant milestones in the cryptocurrency market. During these occurrences, the compensation for mining new blocks is decreased by half. Consequently, this slows down the generation of new Bitcoins, thereby controlling the overall supply.
Previous reductions in supply have fueled robust rallies in the cryptocurrency market, as investors eagerly await the impact of decreased availability on prices.
According to Oklink’s blockchain analysis, there are approximately two days and 13 hours left until an estimated event date of April 20th. (Press time was not explicitly stated in the original text)
As Bitcoin prepares for its next halving event, the Shiba Inu (SHIB) community anticipates a supercycle – an extended phase of significant price growth across the cryptocurrency market. This forecast implies that SHIB could experience a notable surge in value, benefiting from Bitcoin’s decreased production and heightened demand – with the exception of Near Protocol, which gained 9% on a daily basis, and SHIB being among the top 20 coins and trading up by 4% within the last 24 hours at $0.00002243.
The price of BoneShibaSwap (BONE), Shibarium’s gas token, has risen by 4% over the past day and is now valued at $0.594.
It’s enticing to think that SHIB could experience a major bull run fueled by Bitcoin’s success. However, it’s important to keep in mind that history doesn’t always repeat itself and the past performance of Bitcoin isn’t a guarantee of SHIB’s future gains.
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2024-04-17 15:30