Rally

bullish

Bitcoin

Epic

mirror

<figure>
 <figcaption>
 Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a>
 </figcaption>
</figure>
In a significant revelation, historical trends suggest that <a href="https://u.today/bitcoin-to-skyrocket-after-fed-rate-cut-anthony-scaramucci-makes-epic-btc-prediction" rel="noopener noreferrer nofollow">Bitcoin</a> might be on the verge of another major rally, reminiscent of its past Q4 surges.
In a tweet, <a href="https://x.com/ali_charts/status/1838062986885513680" rel="noopener noreferrer nofollow">Ali Martinez</a>, a crypto analyst, pointed out that Bitcoin gained 61% in Q4 of 2016 and 171% in 2020.
<blockquote>
 <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> gained +61% in Q4 of 2016 and +171% in 2020. Interestingly, 2024's price action so far mirrors both years—could history be repeating itself? <a href="https://t.co/M6KxT0unE0" rel="noopener noreferrer nofollow">pic.twitter.com/M6KxT0unE0</a>— Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1838062986885513680?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">September 23, 2024</a>
</blockquote>
Ali pointed out that 2024's price trajectory appears to mirror the patterns from both years, asking if history could be repeating itself. If this is so, BTC could stage an epic rally in the final months of the year.
Bitcoin increased its weekly gains to nearly 10%, extending a rally in the past week bolstered by a jumbo rate cut by the U.S. Federal Reserve. BTC reached a high of $64,712 in today's trading session, following a six-day climb. At the time of writing, BTC was up 1.28% in the last 24 hours to $63,561.
<h2 id="post-halving-history-to-repeat">Post-halving history to repeat?</h2>
Bitcoin completed its fourth "halving" in April this year, reducing the rewards earned by miners to 3.125 Bitcoins from 6.25 BTC.
The Bitcoin price increased by about 93x, 30x and 8x from its halving-day price to its cycle top, making it a bullish event, particularly following the 2012, 2016 and 2020 halvings.
BTC experienced a mid-cycle peak in 2016 and 2020, followed by months of sideways trading before breaking higher in the latter months of the year.
<a href="https://u.today/250-million-bitcoin-in-24-hours-heres-whats-happening" rel="noopener noreferrer nofollow">BTC</a> fell more than 40% from its June 2016 intermediate cycle high before surging in December of the same year. In 2020, BTC fell around 21% from its August peak before reaching new highs in late October 2020.
According to market observers, 2024's corrective phase mirrors the price action of Bitcoin's previous two halving years. This observation prompts many to wonder if history will repeat itself, with Bitcoin staging an epic rally in the latter months of the year. The answer remains unknown, given that past success may not guarantee future results.

Bitcoin Historical Trend Foreshadows Epic Rally in Q4: Details

목차

U_Today

2024년 9월 23일에 게재된 다른 기사

Coinpedia Fintech News

Shiba Inu Burn Rate Surges 772%, Impacting Market Movements and Token Supply

QCP Capital Reports Positive Momentum in Cryptocurrency Market

Is XRP Price Up for a Bullish Upswing or a Bearish Dip?

LO:TECH Launches New MMaaS Platform for Token Liquidity with Unprecedented Transparency and Contr...

Bankroll Status Suffer $230K Loss to DualPools Hacker Attack

무료 뉴스레터에 가입하여 매일 최신 암호화폐 소식을 받아보세요!