That's an interesting take on the upcoming #BitcoinHalving
Here's a breakdown of the key points:
The #Bitcoin #Halving2024 is expected to happen in just about 5 days (as of today, April 16, 2024).
Mentioned past halving events and the significant price increases.
Indeed, Bitcoin prices did experience impressive gains after the 2012, 2016, and 2020 #Bitcoin halvings.
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Here's the information about Bitcoin Dominance:
Bitcoin dominance has never reached a higher level than it has in the past (all-time high).
When Bitcoin dominance is at its peak (highest), the total market value of all other cryptocurrencies (altcoins) tends to also reach a new high.
Historically, Bitcoin dominance peaks around 250 days after a Bitcoin halving event. This means the next peak could be around the beginning of 2025 (first quarter).
Here's the information about Ethereum's price relative to Bitcoin:
Price tends to rise after halving:
Historically, the price of Ethereum compared to Bitcoin (ETH/BTC) has a tendency to peak around a year after a Bitcoin halving event.
Price dips after the peak:
Following this peak, the price of ETH/BTC typically falls for several months, reaching its lowest point somewhere between 5 and 6 months after the halving.
Price holds above previous lows:
There's an interesting trend where the price of ETH/BTC seems to never fall below the lowest point it reached during the previous cycle (year-long period)
Currently, in a buying phase:
Right now, it's believed that ETH/BTC is in an accumulation phase, where the price is slowly going up in anticipation of a future rise.
Here's the Conclusion as an investment strategy:
Investment Strategy
Accumulate throughout 2024:
This suggests buying Bitcoin (BTC) and altcoins (other cryptocurrencies) throughout the year 2024.
Shift to alts after BTC surge:
Once the price of Bitcoin breaks above $100,000, consider swapping some of your Bitcoin holdings into altcoins.
Target profits in early 2025:
This recommendation is to strategically take profits on your holdings, potentially starting sometime between January and June 2025.
