Bitrabo Editorial
Shiba Inu’s marketing lead, LUCIE, shares insights on when the anticipated Bitcoin bull run might kick off. Reference is made to the historical pattern of post-halving rallies signaling the start of new bullish cycles. Based on past trends, signs point to a possible significant bull rally after the 2024 halving event.
Analyzing Previous Bitcoin Post-Halving Trends
LUCIE, the marketing executive for Shiba Inu, conveyed her expectations on the initiation of the Bitcoin bull run to her followers on X (formerly Twitter). She highlighted past bull market cycles and the timelines within which rallies commenced post each Bitcoin halving event.
Following the first halving in 2012, it took nearly a year for the BTC price to respond to the reduced supply, leading to a prolonged bull market that propelled Bitcoin to reach new all-time highs. This trend repeated in 2016.
In 2016, the Bitcoin halving prompted a quicker transition to a bull market compared to 2012. The bull rally after the halving event in 2016 started just six months later. Similarly, in 2020, an upward movement in Bitcoin’s price began approximately 5-6 months following the halving.
Applying this consistent timeframe implies that the Bitcoin bull market could be a few months away. Considering an average of six months post-halving and the event occurring in April 2024, the next bullish cycle could potentially commence around October 2024.
Despite this forecast, the Shiba Inu marketing lead cautions investors that while the pattern is compelling, other variables such as adoption rates, macro trends, and market sentiment can also impact prices significantly.
CALM DOWN
Is the Next Bull Run Just Months Away?
Bitcoin’s past tells an interesting story: major bull runs often follow its halving events, but it’s not instant—there’s usually a waiting period. Historically, we’ve seen that surge happen around 4-6 months after the… pic.twitter.com/tD8B2uZMnY
— 𝐋𝐔𝐂𝐈𝐄 (@LucieSHIB) August 22, 2024
Anticipated BTC Bull Market and New All-Time Highs
Despite a recent market downturn in early August, Bitcoin’s price remains relatively high, with a 30% increase potentially setting a new all-time high. Therefore, if Bitcoin sustains its current pricing and the predicted bull run starts in a few months, a new peak could be within reach.
As of the latest update, Bitcoin’s price stands above $60,000, experiencing a 1.72% decline in the last 24 hours but showing a 5.58% gain over the weekly period.