The post Bitcoin Price Enters Key Halving Indicator Period, Re-Accumulation Period Incoming: Analyst appeared first on Coinpedia Fintech News The closing price for Bitcoin in October represents the start of an important timeframe historically tied to market outperformance, accord...
“And that is the essence of the S2F model: that scarcity and thus halvings drive price,” PlanB wrote. The next halving is estimated to occur in early 2024.
Rekt Capital talks about Bitcoin entering a re-accumulating range
Bitcoin analyst Rekt Capital also cited the cycle around Bitcoin’s 2016 halving and subsequent bull run as a possible template for future price action. In commenting on the chart, he suggested Bitcoin could form a “multi-month re-accumulation range at highs” in the coming weeks.
The observations come as Bitcoin trades near $20,500 after a rally in October, its best monthly close since December 2017, per PlanB. With the 2020 halving now more than two years past, analysts closely watch halving-era price dynamics.
If history repeats itself, the current timeframe could offer an extended period of outperformance while underscoring the halving’s impact on Bitcoin’s scarcity and value. However, macroeconomic conditions and Bitcoin’s growth make outcomes uncertain. The closing October price provides a reference point as analysts assess halving effects.