If historical trends in the context of the upcoming halving are confirmed, then Bitcoin will set a new ATH between April and October 2025. This conclusion was reached by an analyst under the pseudonym Ali.
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As we approach the #BitcoinHalving in April 2024, here are four key points to consider:
1⃣Post-halving corrections: After the 2016 and 2020 halvings, #BTC experienced corrections of 30% and 7% within a month.
2⃣Significant post-halving rallies: Following the 2012, 2016, and 2020… pic.twitter.com/aaJpJcZtAm— Ali (@ali_charts) January 31, 2024
He also shared three other observations regarding the halving of miner rewards:
- after halving in 2016 and 2020, the rate experienced corrections of 30% and 7% within a month;
- when looking at the bigger picture, there are post-event rallies of 11,000%, 2850% and 700% in 2012, 2016 and 2020 respectively;
- The duration of the bull market after halving was 365, 518 and 549 days, respectively.
Separately, the specialist noted the most significant period of coin accumulation in almost three years.
According to his observations, the Accumulation Trend Score indicator has fluctuated around 1 in the last four months. In his opinion, this is a sign of strong confidence among major players.
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#Bitcoin is witnessing one of its most significant accumulation streaks in almost 3 years!
Notably, the Accumulation Trend Score has hovered near 1 for the past 4 months, signaling that larger entities are accumulating $BTC. This trend indicates strong confidence in the market! pic.twitter.com/QcJOEhzBUb
— Ali (@ali_charts) February 1, 2024
Ali also noted the good predictive strength of a buy signal that occurs when MVRV falls below its 90-day average. The expert explained that the appropriate conditions have now arisen.
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Every time the #Bitcoin MVRV Ratio fell below its 90-day average in the past year, it signaled a buy-the-dip opportunity.
Currently, with the #BTC MVRV Ratio again below its 90-day average, it suggests that now might be an opportune moment to buy $BTC. pic.twitter.com/wTCu458u7n
— Ali (@ali_charts) January 31, 2024
Previously, Ali illustrated the price patterns of the last two cycles of the first cryptocurrency and allowed the coin’s rate to fall further. He did not rule out a drawdown to $32,700.
Let us remind you that Glassnode offered the “cost” of purchase for short-term investors ($38,400) and the True Market Mean Price indicator developed jointly with ARK Invest as potential support ($33,300).
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2024-02-01 13:59:47
#analyst #predicted #duration #Bitcoin #rally #halving #ForkLog
