A “bull market” refers to one in which prices are rising or are expected to rise. This type of scenario benefits cryptocurrencies, like Shiba Inu, because Bitcoin’s upward movement tends to drive other cryptocurrencies’ prices higher.
Lucie highlights that Bitcoin’s history tells an intriguing story about how major bull runs frequently follow halving events, but it is not instant — there is usually a waiting period. Historically, such a surge happens around 4-6 months after the halving, Lucie noted.
Lucie went on to cite Bitcoin’s various halving cycles, such as the 2012 halving where the bull run took off about a year later. In 2016, major gains kicked in around six months after the Bitcoin halving event while, in 2020, things started heating up around 5-6 months post-halving.
It should be borne in mind that historical performance does not guarantee future results, as the market might influenced by other factors such as adoption, macro trends and sentiment.
As reported, CryptoQuant Head of Research Julio Moreno weighed in on Bitcoin’s price performance in halving years. Moreno noted that bears have performed in 2024, so far, similarity to 2016 and 2020, while predicting a likely price increase for Bitcoin in Q4, 2024.
The same view was echoed by CryptoQuant CEO Ki Young Ju, noting that in the last Bitcoin halving cycle, the bull rally began in Q4. Ju presents this possibility for Q4, 2024, adding that “whales won’t let Q4 be boring with a flat YoY performance.”
At the time of writing, BTC was up 1.79% in the last 24 hours to $60,679; the Shiba Inu price was up 5% in the same time frame to $0.00001433.
This article was originally published on U.Today
To read the full article, Click Here