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Bitcoin Halving 2024: Ride to $250K?
Introduction:
In the crypto realm, #Bitcoin reigns supreme.
As we gear up for the upcoming #BitcoinHalving in April 2024, the excitement is tangible.
The halving, a historic price catalyst, has set the stage for Bitcoin's surge.
Let's delve into the phases of the halving and the prospect of Bitcoin hitting $250K.
5 Zone of the Bitcoin Halving:
1️⃣ Pre-Halving Zone:
Approximately 4 months pre-halving, a prime time for deep retraces that historically lead to post-halving gains.
2️⃣ Pre-Halving Pump:
Around 100 days before the halving, a rally ensues as investors "Buy the Hype" in anticipation, aiming to "Sell the News."
3️⃣ Pre-Halving Retracement:
A common retrace around the halving date ( Pink Colour ), fostering investor doubts about the halving's bullish impact.
2012: -30%
2016: -45%
2020: -66% ( Covid )
2024: ?
4️⃣ Re-Accumulation:
Post-retrace, a multi-month re-accumulation phase (Red box) occurs. Impatience, boredom, and disappointment shake out some investors.
5️⃣ Parabolic Uptrend:
Breaking out from re-accumulation triggers a parabolic uptrend (Green), propelling Bitcoin towards new All-Time Highs.
The Road to $250K:
Historically, after breaking out from re-accumulation, #Bitcoin embarks on accelerated growth, reaching new heights.
If the trend persists, the possibility of Bitcoin hitting $250K in the next cycle is on the horizon.
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