I’ve just created an interesting chart comparing this current cycle to the previous halving.
While it may not follow exactly, I believe we might observe significant similarities. My conclusion is that leading up to the halving, Bitcoin tends to (on average, excluding the COVID wick) drop by 17-18%. This leads me to believe that a $34,000 BTC is definitely feasible by the end of January, or during February.
And (again, on average) approximately 200 days after the halving, BTC tends to break the ATH.
The only stage on the chart above that I personally believe will not follow is the target. For months, my personal bull market top expectation has been between $90,000-$95,000, and it still remains the same. If we enter a super-cycle, then the figure would be much higher - too early to predict at this stage.
While it may not follow exactly, I believe we might observe significant similarities. My conclusion is that leading up to the halving, Bitcoin tends to (on average, excluding the COVID wick) drop by 17-18%. This leads me to believe that a $34,000 BTC is definitely feasible by the end of January, or during February.
And (again, on average) approximately 200 days after the halving, BTC tends to break the ATH.
The only stage on the chart above that I personally believe will not follow is the target. For months, my personal bull market top expectation has been between $90,000-$95,000, and it still remains the same. If we enter a super-cycle, then the figure would be much higher - too early to predict at this stage.