While Bitcoin experienced a sharp correction after the approval of the spot ETF, it is slowly showing signs of recovery.
At this point, while there are many predictions regarding the price movements of BTC, the final evaluation came from the crypto platform DecenTrader.
DecenTrader co-founder and CEO Filbfilb, who made an analysis within the scope of historical halving data, said that there will be an event of selling the news after the halving in April, as in the spot ETF approval.
Stating that the halving event is an important catalyst for the BTC price, Filbfilb predicts that the classic halving cycle will occur in 2024.
According to Filbfilb's analysis, Bitcoin will experience sideways price movement for approximately a month before markets begin to react to the halving event.
“Bitcoin halving is approximately 75 days away, and the halving is expected to occur around April 18, 2024.
Based on the data that buying interest started some time before the halving, I expect the buying interest, that is, the price, to start to rise at least 6 weeks before the halving or in the second week of March.
This means Bitcoin has approximately 30 days to go through the correction phase before finding the expected FOMO demand.
“During this period, I expect BTC to move horizontally until the first weeks of March.”
“Expecting New ATH in 2024!”
The famous CEO said that after the halving, a “news selling event” will come, similar to the ETF approval, and argued that Bitcoin will reach ATH in 2024, despite these declines.
“According to historical data, it took Bitcoin 220 – 240 days after the halving to reach all-time highs.
Even if there is a sell-off event after the halving, I think Bitcoin will rise to all-time highs in the mid to late Q4 of 2024.”
*This is not investment advice.
