EddieJayonCrypto
13 Dec 23
Now seems like a good time to get excited about Bitcoin. The cryptocurrency has seen a lot of volatility for the last couple of years with some significant price swings. Does this new upward momentum suggest that the bottom is in, and the bull market is approaching? If we take a look at Bitcoin's...
Now seems like a good time to get excited about Bitcoin. The cryptocurrency has seen a lot of volatility for the last couple of years with some significant price swings. Does this new upward momentum suggest that the bottom is in, and the bull market is approaching?
If we take a look at Bitcoin's previous halving cycles, we see this recent price action is not so out-of-the-ordinary. Following the halving, Bitcoin has always rallied and eventually reached new all-time highs. No doubt, this time around, the expectations are similar - off the charts. Everyone in the industry believes in a huge rally following the halving. However, this kind of universal bullish consensus could be a red flag for the alternative outcome. Instead of seeing a rally, the market may stagnate post-halving, or worse, we could see a price lower than we are anticipating.
It is worth staying in the loop and having a backup plan just in case the market does not play out as per everyone's expectations after the halving.
Disclaimer:This is not financial advice. Please do your own research before investing in any asset.