Bitcoin Peak Pre-Halving Doesn’t Guarantee Further Gains: Analyst
16 April 2024 - 12:00AM
NEWSBTC
With the fourth Bitcoin Halving just around the corner, Lady of
Crypto, a market analyst and trader, has weighed in on claims
concerning this bull cycle. The crypto analyst shared her
insights after analyzing the recent market decline and the
impending Bitcoin halving this month. According to the expert,
there have been speculations that since BTC broke its all-time high
early, the cryptocurrency can continue seeing fresh gains.
Bullish Run Misconception: Bitcoin Can Hit Another ATH? Lady of
Crypto has disregarded the claims that this bull cycle will begin
early, saying she believed the community was “lied to and
suggesting widespread misinformation” and dismissing the current
gains as the signs of a widespread bull run. Related Reading: Will
The Halving Send Bitcoin Price To $100,000? Analytics Platform
Reveals What You Should Expect As The Halving approaches, the
analyst noted that Bitcoin and Altcoins are severely down, but this
is not the time to panic. Drawing attention to the 2016 and 2020
pre-halving dips, she highlights that BTC plummeted by 30% and 20%
shortly before the event. Meanwhile, during this pre-halving
period, BTC has dropped by over 17%, with altcoins falling by 29%.
Although the current decline was severe, Lady of Crypto notes that
it is in the range of a typical pre-halving dip and a black swan
event. She compares the COVID meltdown, in which BTC fell by 58%
and altcoins by 68%, suggesting that the current decline pales in
significance. Lady of Crypto clarified that Bitcoin Spot
Exchange-Traded Funds (ETFs) have been a major factor in BTC
breaking its peak early, highlighting that the masses have not yet
arrived. The expert then points to social media presence,
revealing that the masses are returning to the crypto market.
“YouTube views and subscribers show interest in returning
gradually, in line with this time last cycle, as do new Twitter
followers,” she added. This Bull Cycle Is Mirroring Past Halving
Except for BTC’s early all-time high break, Lady of Crypto believes
this bull run is unfolding similarly to the last two, albeit with
more volatility. However, the volatility suggests this will be the
biggest bull market ever. Related Reading: Bitcoin Bonanza
Before The Halving? Analyst Sees Pre-Crash Buying Window She
advises underexposed investors that the dips are the best chance to
purchase BTC during a bull run. Meanwhile, if an investor is
overexposed, holding the crypto asset has historically been the
best course of action, drawing attention to 2020 and 2021 dips.
Addressing fear and panic among investors, Lady of Crypto cautioned
that multiple situations might trigger a panic sell during every
bull run. Even though these events appear terrible, like the bull
run coming to an end, they are just sideshows. Featured image from
Istock, chart from Tradingview.com
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