đŁđ˘THIS IS MUST KNOW FOR ALL CRYPTO TRADERS AND ENTHUSIASTS AHEAD OF THE BULL RUN.
â đ°Bitcoin Halving Phases : 5 Phases of Bitcoin Halving Explained.
1. PRE-HALVING DOWNSIDE :
The Pre-Halving Downside phase refers to a period before the Bitcoin halving event where the cryptocurrency experiences downward price movements or corrections. This phase is marked by a decrease in Bitcoin Price as traders anticipate the upcoming halving event. However, this phase has concluded, as indicated by the recent Weekly Candle Close, suggesting that the downward trend has ended. The transition into the Pre-Halving Rally phase signifies a shift in market sentiment, with Bitcoin poised for potential upward momentum leading up to the halving event.
2. PRE-HALVING RALLY :
The Pre-Halving Rally phase typically occurs approximately 60 days before the Bitcoin Halving event, which is expected in April 2024. During this phase, there is a surge in Bitcoinâs price as investors anticipate the halving event. This rally is often fueled by hype surrounding the event, with investors buying into the excitement. Short-term traders and speculators aim to profit from this hype-driven rally by purchasing Bitcoin before the halving and selling shortly after, a strategy known as âBuy the Hype, Sell the News.â This behavior contributes to a Pre-Halving retrace, where Bitcoin experiences a temporary dip in price leading up to the halving event itself.
3. PRE-HALVING RETRACE:
Following the conclusion of the Pre-Halving Rally, the Pre-Halving Retrace phase typically unfolds a couple of weeks before the actual Halving event. During this phase, Bitcoin experiences a temporary price decline. Historical data shows that in 2016, this retracement was as deep as -38%, while in 2020, it was -20%. This retracement phase can last for several weeks, leading investors to question whether the Halving event will indeed have a positive impact on Bitcoinâs price.
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