#Bitcoin❗ #Bitcoin's #btc70k #BinanceSquareFamily #BinanceMegadrop
Introduction
Bitcoin (BTC) has been hovering around the $64K mark, causing many investors to lean towards short positions due to bear market fears. However, there are three key reasons why now may be the right time to consider buying, rather than shorting, Bitcoin before the year ends. Let’s take a look at why purchasing Bitcoin before 2024 could be a smart move.
Why Bitcoin is a Strong Buy Before 2024
As highlighted, here are the three main reasons to consider investing in Bitcoin now:
- Historical data shows Bitcoin’s best performance occurs in Q4.
- Post-halving patterns indicate Bitcoin is at the midpoint of a bull run that started in 2023. If the rally begins soon, it could peak about 480 days after the last halving, putting the projected top for Bitcoin around August 12, 2025.
- Institutional demand is set to rise with the approval of spot Bitcoin ETFs and Bitcoin options, and the limited supply of BTC means increased competition among buyers.
All of these factors suggest a significant bull run for Bitcoin and the broader crypto market is on the horizon.
Q4 : Historically Bitcoin’s Strongest Quarter
Coinglass data over the last 11 years shows that the fourth quarter is the most profitable for Bitcoin, with an average return of nearly 90%. In contrast, Q1 and Q2 yield 56% and 27%, respectively, while Q3—the current quarter—has historically performed the worst, with just a 6% return. As of this writing, Bitcoin's Q3 performance in 2024 stands at a modest 0.41%, highlighting that purchasing during this dip before Q4 could be an advantageous strategy.
Post-Halving Rally Expected Soon
Bitcoin's typical post-halving cycle starts approximately 170 days after the halving event. Since the last halving occurred on April 19, 2024, we are now about 155 days past that point, indicating that the next major rally could begin in just a couple of weeks. As previously mentioned in a CoinGape article, this cycle aligns with the Mars-Vesta astrological pattern, suggesting a bullish outlook for Bitcoin. Based on this model, Bitcoin could potentially reach $100,000 by October 2025.
Conclusion
The combination of historical trends, post-halving dynamics, and rising institutional interest all point to a strong bull run for Bitcoin before the end of 2024. Investors looking to maximize their returns may want to consider buying BTC now, as the upcoming months could bring substantial growth for the cryptocurrency.
