"Bitcoin (BTC), Could Experience Up to 4 More Weeks of Decline Following Halving Pattern"
JH Kim
Summary
- "Bitcoin (BTC) has been analyzed to experience a marked downtrend starting around the 480th day after the previous halving event."
- "It was stated that if this pattern repeats, the current downtrend may continue for another 2 to 4 weeks."
- "It is forecasted that a rebound could start around the 510th day, potentially resulting in a new all-time high."
On the 19th (local time), CryptoQuant contributor Ben Sizelove analyzed through his X (formerly Twitter) account that "Bitcoin (BTC) has consistently experienced a marked downtrend starting around the 480th day after the previous halving event."
He continued, "If this pattern repeats, the current downtrend may continue for another 2 to 4 weeks," and added, "However, a rebound is likely to begin around the 510th day, which could eventually lead to a new all-time high."
As of 02:24 on the 20th, based on the Binance Tether (USDT) market, Bitcoin was trading at $113,393, down 2.55% from the previous day.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
