The Bitcoin (BTC) halving has always been an important moment in the history of cryptocurrency prices. This is evident among other things: A analysis From analyst TradingShot. The analyst uses an interesting graph to show that BTC price always follows the “golden ratio”, before and after the halving.
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Bitcoin price around halving
The Bitcoin halving is expected to take place in about two weeks. At this point, the amount of new bitcoins entering circulation will be cut in half.
Using the weekly chart, TradingShot shows how Bitcoin has always followed the same pattern during previous halvings. If we look at a complete bull cycle, 51% of that cycle occurs before the halving, and 49% after the halving.
Interestingly, the most aggressive part of the bull cycle occurs after the halving.
According to the analysis, Bitcoin price could reach a peak price of around $200,000 based on previous patterns.
As always, past results never guarantee future results. The fact that the price has behaved in a certain way in the past does not necessarily mean that it will continue to do so again. This is definitely not financial advice.
Another 500 days of bull market for Bitcoin price
The big question everyone is asking now is, in addition to where the potential peak of this cycle is, also how long the bull market will last. Share your opinion below to see what other Crypto Insider readers think!
TradingShot analysis gives an indication of how long the bull market may last. After the halving, according to the analyst, there will still be 500 days for the bulls to rule.
“However, the highlight of this analysis is the golden ratio of the halving, which means that the time distance from the bottom of the bear cycle to the halving is approximately equal to the distance from the halving to the top of the bull cycle. […]
This indicates that we have at least 500 more days of bullish cycle ahead of us and the best part is that it will be in the form of the most aggressive part of the cycle.
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