đ Bitcoin stuck in BORING phase: What's next?
Wondering why Bitcoinâs price is stuck in a repetitive up-and-down pattern? Itâs because weâre in the âBORING PHASEâ that occurs before and after a Bitcoin halving event.
Historically, this phase lasts between 30 to 33 weeks before a significant price movement. In previous cycles, it was followed by strong parabolic moves leading to new all-time highs (ATH). If this pattern holds, the boring phase might end around September 2024, with October potentially shaping up to be a bullish âUP-tober.â
Looking at past cycles, Bitcoin prices surged by 2300% and 445% respectively. Based on these patterns, a conservative price estimate for the next ATH could range between $150,000 and $180,000. However, several factors could push Bitcoin to $250,000 or higher:
- A pro-crypto U.S. President could lead to positive regulations and increased liquidity
-The U.S. might adopt a Strategic Bitcoin Reserve, with other countries potentially following
- Russiaâs use of crypto for international trade and the possibility of BRICS countries implementing similar strategies
- Rumors of China potentially lifting its crypto ban could also impact the market.
Historically, Bitcoin reaches new ATHs 74 to 77 weeks after the halving. If history repeats, we might see the next ATH around September to October 2025.
Final Takeaway: The boring phase might seem uneventful, but itâs a crucial time to reassess your crypto holdings, consider adding more Bitcoin, and prepare for the exciting phase ahead. Once the parabolic move starts, itâll be all about Bitcoin, ATHs, and moon talk! đđđ°
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