- Bitcoin’s recent price movement has displayed a pattern reminiscent of previous cycles leading up to halving events.
- Historically, Bitcoin tends toward range bound trading during the second to fourth quarters (Q2 to Q4) of the pre-halving years.
- Bitcoin is on the brink of its next halving event, projected to take place in early 2024.
Recent sideways Bitcoin price action mirrors past cycles heading into upcoming halvings, according to crypto analyst Miles Deutscher.
#Bitcoin's recent price action is still mirroring the last 2 cycles.This is typical sideways price action that occurs from Q2-Q4 in pre-halving years.
November 21st has historically been the key pivot point for a bullish shift. Will be interesting to see how $BTC responds. pic.twitter.com/zP9vlG31Qc
— Miles Deutscher (@milesdeutscher) October 10, 2023
In a tweet, Deutscher noted range bound trading from Q2 to Q4 of pre-halving years is historically the norm before bullish shifts around November 21st.
Bitcoin’s next halving is expected in early 2024, cutting its block reward in half. Previous halvings catalyzed monumental bull runs.
However, Crypto Capital Venture founder Dan Gambardello h…
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