November is a critical accumulation period for Bitcoin before the halving in April 2024, and the 6 months before and 18 months after the halving are crucial to market dynamics.I think the scarcity brought about by each halving will drive the price of Bitcoin
November is a critical accumulation period for Bitcoin before the halving in April 2024, and the 6 months before and 18 months after the halving are crucial to market dynamics.I think the scarcity brought about by each halving will drive the price of Bitcoin.
The halving of Bitcoin in the past usually accompanied a surge in prices, with Bitcoin peaking around 18 months after the halving.Currently, due to the impact of spot ETF news, the price of Bitcoin is consolidating at around $34300.
November will be a critical moment for BTC bulls to accumulate before halving in April 2024.
Just like the preparation before a race, this stage is an extremely important window of opportunity for both buyers and sellers. This means that we must patiently wait until the end of 2025 to glimpse the signs of halving the impact.
The essence of the S2F model is that scarcity drives prices, just like stars in the night sky. Each halving is a major event, resulting in a significant reduction in BTC's issuance and making assets even rarer and more precious.
Will prices increase significantly after halving?
The last time Bitcoin halved occurred in May 2020, when the global financial and economic systems were in a state of suspension. However, 18 months later, in November 2021, BTC prices peaked at around $69000.
This is not an accident, but a pattern that has been observed over the years. Other well-known figures in the cryptocurrency industry also believe that halving will have a profound impact on the price of cryptocurrencies. Zhao Changpeng (CZ), CEO of Coin An, is one of them. He pointed out that BTC achieved multiple ATHs after halving by one year, rather than taking time to gradually climb as widely believed.
Nowadays, the trading price of Bitcoin is $34300, fluctuating widely between $32000 and $34000. The rumors and news surrounding the speculation of spot ETFs have driven prices up. We will closely monitor whether Bitcoin prices will exceed $34000 in November this year or continue to consolidate for a longer period of time.
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