Bitcoin’s price rally in 2023 has been more influenced by macroeconomic events and its correlation with US tech stocks than the period since the last BTC halving.
Renowned analyst Ali Martinez predicts a stable long-term BTC uptrend, while TradingShot highlights a golden cross pattern signaling a potential bull rally to $69,000.
Before Litecoin halving, its price surged to a multi-month peak, and the actual halving acted as a “buy the news, sell the rumor” situation. Subsequently, the LTC price sharply declined. NYDIG, a Bitcoin company, predicts a similar weakening trend during the upcoming BTC halving.
The Bitcoin halving is an eagerly awaited milestone for traders and market participants. Occurring once every four years, it halts the mining reward for a BTC block, effectively reducing the circulating supply. Traditionally, this has led to higher prices due to decreased supply, but experts have noticed a shift in this trend.
The potential of a BTC halving acting as a bull
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