📈Bitcoin Bull Cycle: Analysis Before Halving

Despite Bitcoin's recent price drop from a record $73,835 to around $60,000, analysts say the bull cycle is not over yet. The CryptoQuant report indicates relatively low levels of investment flows from new investors, with 48% of investments from short-term holders, while previous peaks were at 84–92%. This suggests growth could continue.

With the halving approaching, when the block reward will decrease from 6.25 BTC to 3.125 BTC, support is expected for the BTC price and a possible parabolic uptrend. Historically, halvings have preceded significant bull markets.

Standard Chartered Bank has raised its BTC price forecast to $150,000 by the end of 2024, based on the performance of spot Bitcoin ETFs and previous price gains. This underscores belief in Bitcoin's long-term potential despite short-term fluctuations.#HotTrends #binancesquare #Halving #BTC $BTC