Shiba Inu, LUCIE Marketing Lead, weighs in on the debate on the Bitcoin bull run and when it will likely begin in full force. He capitalizes on Bitcoin’s legendary post-halving rally, which often kicks off a recent bull run. Based on historical results, the market could be headed for another significant post-halving bull run in 2024.
Mapping Bitcoin’s Post-Halving Growth
In a post on Platform X (formerly Twitter), Shiba Inu CMO LUCIE told her 144,000 followers when she expects Bitcoin’s bull run to begin. The post points to previous bull runs and the timeframes in which the rallies began after each Bitcoin halving.
For starters, after the first halving in 2012, it would take almost a year for the BTC price to see a reduction in supply volume trigger an uptrend. The result was a prolonged bull market that pushed the Bitcoin price to recent all-time highs. On the other hand, in 2016, the market witnessed a similar move.
The 2016 Bitcoin halving marked a shorter period before the bull market following the halving. Unlike the previous bull market in 2021, the 2016 bull market began just six months after the halving ended. Moving into 2020, a similar trend would occur, with the BTC price rally beginning around 5-6 months after the halving.
Using this established time frame, this would mean that the Bitcoin bull market is only a few months away. Using the six-month average and the fact that Bitcoin halving occurred in April 2024, this would mean the next bull cycle would begin around October 2024.
However, the Shiba Inu marketing leader cautions investors that this is not an exact science, given that other factors can affect the price. “There are a lot of things that affect the market — adoption, macro trends, sentiment — but it’s hard to ignore the pattern,” she concluded.
CALM DOWN 😵💫😏
🔥Is the next bull market just a few months away?🔥
Bitcoin’s past tells an compelling story: Huge gains often follow halvings, but they aren’t immediate—there’s usually a waiting period. Historically, we’ve seen this gain happen around 4-6 months after… photo:twitter.com/tD8B2uZMnY
— 𝐋𝐔𝐂𝐈𝐄 (@LucieSHIB) August 22, 2024
BTC bull market could lead to recent ATHs
Despite the nasty crash that rocked the market in early August, the price of Bitcoin is still holding robust enough for a 30% escalate from that level to set a recent all-time high. So, if the price of BTC holds onto that level and a bull run begins in a few months as predicted, a recent all-time high could be on the horizon.
At the time of writing, Bitcoin price is still holding above $60,000, with losses of 1.72% in the last 24 hours. However, it is still up 5.58% on the weekly chart.
Featured image created with Dall.E, chart from Tradingview.com
