There are less than 20 days left until Bitcoin’s halving, which is expected to begin in three weeks: April 19, 2024.
It can also be seen from the recent market trends that although Bitcoin has a volatile trend, there are still some altcoins that continue to strengthen.
Different from the bear market, the rising power of the bull market not only comes from the main force. When a project is favored by investors, it will often form a joint force to rise. At this time, the selling pressure is basically only the project party itself.
And since the chips of many project parties are also unlocked and released in batches, when various aspects lead to fund resonance, the price often rises very rapidly, which is also the reason why the price in the bull market is easily distorted.
But today I mainly want to talk about the trend of Bitcoin halving in the short term?
➮ Many are hoarding alternatives, creating large portfolios, and expecting huge growth after the halving.
Others are selling, fearing stagnation and a downturn after the halving.
So who is right? Time will tell.
➮ The halving is not far away and will happen on April 19th, which will be the fourth halving in history.
In the image below you can see all the halvings that have occurred.
To understand what will happen in 2024, we need to look back at the 2016 and 2020 halvings.
➮ First, let’s briefly analyze the market capitalization of all altcoins from 2016 to 2024.
✧ I took a chart of all the alternatives except the top 10, with the following.
Now let us analyze each round of halving trends separately.
➮ Halving in 2016
✧ After the 2016 halving, ALT declined for 6 consecutive months.
✧ However, this is mainly because the altcoin market was not very popular in 2016, and there was little interest in almost all projects except BTC.
It wasn’t until 2017 that interest started to take hold, leading to huge growth.
➮ Halving in 2020
✧ In 2020, there were no outages and ALT continued to grow almost continuously until the end of 2022.
Back then, cryptocurrencies were more popular among ordinary people, which is why altcoins maintained steady growth and any pullbacks, if any, were short-lived.
➮ Halving in 2024
✧ This year has shown us a different picture as growth has already started and appears to be ahead of schedule.
✧ Considering the past two halvings have seen corrections or sideways phases, but never extended, we won’t see any downtime.
➮ Of course, all of this is difficult to predict accurately, and a lot can change during the halving.
✧ But given the stable halving schedule of 1.5 years, I think we will see gradual, stable growth within 1 year.
➮ It is important to consider the recent approval of the BTC ETF, which has resulted in an influx of new users and liquidity.
✧ Increased liquidity will lead to reduced volatility.
✧ BTC is an almost universally recognized cryptocurrency
All of which could make the coming bull market last longer
➮ Summary:
✧ Considering all the above facts, it is unlikely that we will see any severe market fluctuations or market freezes.
✧ So I think we will gradually grow as the cycle has started, this is just my personal research, so keep DYOR in mind.
Remember, if you view your position as a long-term investment, market declines should be viewed as a gift. It provides the opportunity to purchase more tokens.
Finally, it is crucial to have a strategy before making any purchases, and never invest all of your money.
I hope this topic is helpful to you, 🙏Thank you for your likes and support👍
