Bitcoin stands at the forefront, with its upcoming halving event sparking excitement and uncertainty among investors. As the countdown to Bitcoin’s fourth halving narrows to roughly three days, market dynamics have taken a tumultuous turn, with significant implications for the digital asset’s price trajectory.
Deciphering BTC’s Halving Patterns: Insights Into Pre-Event Price Behaviour
While the Bitcoin market has been on a decline over the past week, A CryptoQuant analyst has recently highlighted a recurring pattern in Bitcoin’s price dynamics observed before each halving cycle.
This pattern entails a significant price decline, a trend witnessed in previous halving events. For instance, during the second halving, Bitcoin experienced a price drop of 40.36%, plummeting to $465 before eventually surging to an all-time high of $19,600.
Similarly, preceding the third halving, the cryptocurrency saw a decline of 20.35%, reaching a low of $8,078 before reaching a peak of
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