Shiba Inu marketing lead LUCIE has shared her insights on the Bitcoin bull run debate and when it is expected to kick off in full force. Drawing from the historical precedent of the Bitcoin post-halving rallies, LUCIE believes that the market could be gearing up for another significant bull rally following the halving event in 2024.
In a post on X (formerly Twitter), LUCIE, with a substantial following of 144,000, highlighted the patterns of previous bull cycles and the timeframes within which the rallies typically commenced after each Bitcoin halving. Looking back at the first halving in 2012, it took nearly a year for the BTC price to respond to the reduced supply volume and embark on an upward trend, leading to a prolonged bull market that saw Bitcoin prices reaching new all-time highs. Similarly, the 2016 halving witnessed a shorter timeframe before the bull market took off, with the rally commencing just six months post-halving. Fast forward to 2020, a similar trend emerged, with the BTC price starting to climb around 5-6 months after the halving.
Based on this established timeline, it is speculated that the next Bitcoin bull market could be just a couple of months away. With the Bitcoin halving occurring in April 2024, and considering the average six-month timeframe, the commencement of the next bull cycle is projected to be around October 2024. However, LUCIE cautions investors that while historical patterns provide valuable insights, the market is influenced by numerous factors such as adoption, macro trends, and sentiment, making it difficult to predict with absolute certainty.
Despite a recent market crash in early August, the Bitcoin price remains at a level that is close to a new all-time high. A 30% push from the current price would set Bitcoin at a record high, indicating that if the price holds steady and the predicted bull run begins as anticipated in the coming months, a new all-time high could be within reach.
As of the latest update, the Bitcoin price is still hovering above $60,000, experiencing a slight decrease of 1.72% in the last 24 hours but maintaining a 5.58% gain on the weekly chart. The market sentiment remains optimistic, with the potential for a new ATH on the horizon.
In conclusion, LUCIE’s analysis suggests that based on historical trends, the Bitcoin bull market could be on the verge of starting in the near future, potentially leading to new all-time highs. While the exact timing and trajectory of the market are subject to various influencing factors, the patterns observed in previous halving cycles provide valuable insights for investors looking to navigate the volatile cryptocurrency landscape.
