{"id":544496,"date":"2023-07-26T23:00:43","date_gmt":"2023-07-26T23:00:43","guid":{"rendered":"https:\/\/uniquehot.com\/?p=544496"},"modified":"2024-06-11T07:30:53","modified_gmt":"2024-06-11T07:30:53","slug":"bitcoin-bull-market-not-starting-in-2023","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-bull-market-not-starting-in-2023\/","title":{"rendered":"Bitcoin Pre-Halving Patterns Suggest Bull Market Is Not Starting In 2023"},"content":{"rendered":"

The Bitcoin halving is arguably the most important event for the blockchain due to its function. As such, it has played a significant role in when the crypto bull market starts and how long it lasts in most cases. Although there have been slight deviations in how it triggers each bull market, pre-halving data over the years suggests that it keeps to quite a tight schedule.<\/p>\n

Bitcoin Maintaining Historical Trend<\/h2>\n

While most of the year has seen Bitcoin deviate from many historical trends, leading to speculation that the next bull market won\u2019t follow the established trend, the digital asset\u2019s current pattern suggests that these widespread speculations may be wrong.<\/p>\n

Related Reading: Crypto Analyst Says It\u2019s Time To Buy Dogecoin, Here\u2019s Why<\/a><\/div>\n

In a chart shared on Twitter, pseudonymous crypto analyst @stockmoneyL has presented the argument that Bitcoin could indeed follow the previous bull market trends. The chart shows the number of days between the bottom of the bear market and the next halving event has always maintained a reasonably tight timeline.<\/p>\n

Going by the chart, if Bitcoin follows this same timeline, then the bull market will actually begin in 2024. With 532 days between the 2022 bottom and the next halving, it fits in with the average 530 days seen between cycles, after which bull markets have often begun.<\/p>\n

\"Bitcoin<\/p>\n

Timeline between BTC bottom and halving event match up | Source: Twitter<\/a><\/pre>\n

If this plays out in this instance as well, it would invalidate the expectations of a bull market starting in 2023. It then puts the start of the bull market toward the middle of 2024, similar to other bull markets that have begun following the halving event.<\/p>\n

Where Does BTC Land In The Bull Market?<\/h2>\n

Over the last couple of bull markets, the price of Bitcoin has always surpassed its previous all-time high by a significant margin. For example, during the 2017-2018 bull market, the price of the digital asset clocked an all-time high price of $19,000. And even though it was significant at the time, it was nothing compared to the next ATH.<\/p>\n

\"Bitcoin<\/p>\n

BTC bulls push toward $29,500 | Source: BTCUSD on Tradingview.com<\/a><\/pre>\n

In 2021, at the height of the last bull market, the price of BTC reached as high as $69,000, more than triple its previous all-time high. This trend has always endured through all bull markets and if there is a repeat, then it is possible that the price of BTC will reach $150,000 in the next bull.<\/p>\n

Related Reading: Ethereum Whale Transfers To Exchanges Suggest More Selling Pressure For ETH<\/a><\/div>\n

Now, the exact time frame for this has varied depending on who the forecast was coming from. However, looking at Bitcoin\u2019s previous all-time high peaks, they happen around a year after the halving and start of the bull market. So in this case, it would put the new ATH for the digital asset in 2025.<\/p>\n

Follow Best Owie on Twitter<\/a> for market insights, updates, and the occasional funny tweet\u2026 Featured image from iStock, chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"

The Bitcoin halving is arguably the most important event for the blockchain due to its function. As such, it has played a significant role in when the crypto bull market starts and how long it lasts in most cases. Although there have been slight deviations in how it triggers each bull market, pre-halving data over the years suggests that it keeps to quite a tight schedule. Bitcoin Maintaining Historical Trend While most of the year has seen Bitcoin deviate from many historical trends, leading to speculation that the next bull market won\u2019t follow the established trend, the digital asset\u2019s current pattern suggests that these widespread speculations may be wrong. Related Reading: Crypto Analyst Says It\u2019s Time To Buy Dogecoin, Here\u2019s Why In a chart shared on Twitter, pseudonymous crypto analyst @stockmoneyL has presented the argument that Bitcoin could indeed follow the previous bull market trends. The chart shows the number of days between the bottom of the bear market and the next halving event has always maintained a reasonably tight timeline. Going by the chart, if Bitcoin follows this same timeline, then the bull market will actually begin in 2024. With 532 days between the 2022 bottom and the next halving, it fits in with the average 530 days seen between cycles, after which bull markets have often begun. Timeline between BTC bottom and halving event match up | Source: Twitter If this plays out in this instance as well, it would invalidate the expectations of a bull market starting in 2023. It then puts the start of the bull market toward the middle of 2024, similar to other bull markets that have begun following the halving event. Where Does BTC Land In The Bull Market? Over the last couple of bull markets, the price of Bitcoin has always surpassed its previous all-time high by a significant margin. For example, during the 2017-2018 bull market, the price of the digital asset clocked an all-time high price of $19,000. And even though it was significant at the time, it was nothing compared to the next ATH. BTC bulls push toward $29,500 | Source: BTCUSD on Tradingview.com In 2021, at the height of the last bull market, the price of BTC reached as high as $69,000, more than triple its previous all-time high. This trend has always endured through all bull markets and if there is a repeat, then it is possible that the price of BTC will reach $150,000 in the next bull. Related Reading: Ethereum Whale Transfers To Exchanges Suggest More Selling Pressure For ETH Now, the exact time frame for this has varied depending on who the forecast was coming from. However, looking at Bitcoin\u2019s previous all-time high peaks, they happen around a year after the halving and start of the bull market. So in this case, it would put the new ATH for the digital asset in 2025. Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet\u2026 Featured image from iStock, chart from TradingView.com<\/p>\n","protected":false},"author":541,"featured_media":544508,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,85533,8856,1119,1144,78790],"class_list":["post-544496","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-bull-run","tag-bitcoin-halving","tag-btc","tag-btcusd","tag-btcusdt"],"acf":[],"yoast_head":"\nBitcoin Pre-Halving Patterns Suggest Bull Market Is Not Starting In 2023<\/title>\n<meta name=\"description\" content=\"The Bitcoin halving is arguably the most important event for the blockchain due to its function. 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This has seen Best dive into topics in areas such as decentralized finance (DeFi), non-fungible tokens (NFTs), Layer 2 blockchains, etc. In addition to this, Best is a vocal member of the crypto community across various social media platforms such as X and Reddit. Best\u2019s work garners tens of thousands of readers monthly, who rely on the information in these publications to keep up-to-date with everything happening in the crypto community. Best\u2019s articles explore breaking news, intricate systems such as yield farming, liquidity pools, and other decentralized finance (DeFi) systems. This is because Best understands the importance of information to gaining financial freedom and believes that everyone should have access to this information. Best also believes in leveraging the blockchain for philanthropy to create the most positive social impact. This involves work with charitable organizations focused on financial literacy and education. With each article, Best lends a voice to important issues such as a more financially inclusive future, transparent systems for growth and development, and technology that is not self-serving but one that serves all of humanity. When not curating engaging content, Best can be found reading a book with a cup of hot chocolate, enjoying a Netflix series, or exploring the outdoors with Green - the world\u2019s most quiet and well-behaved Husky. Best\u2019s interests also span other industries such as art, finance, and security, attending seminars and conferences in not just the crypto industry but other industries as well. As an animal lover, Best is also involved with charities for animals, local shelters, and rescues. Best is also involved in local events that promote inclusivity, such as being a prominent member of hiking clubs and a cycling club, as well as being a part of a very happy group of animal lovers. Best is a true professional in every sense of the word, with an exceptional dedication to producing high-quality work. This shines through in Best's work on and off the clock. These include advocating for inclusive crypto education for all, the impact of financial illiteracy, and the benefits of adopting new technologies such as cryptocurrencies. Best\u2019s prolific career in the media industry is a testament of how hard work and dedication pays.","sameAs":["https:\/\/www.linkedin.com\/in\/best-owie-41a150178\/","https:\/\/x.com\/https:\/\/twitter.com\/BestOwie"],"url":"https:\/\/uniquehot.com\/author\/owiebest\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Pre-Halving Patterns Suggest Bull Market Is Not Starting In 2023","url":"http:\/\/uniquehot.com\/news\/bitcoin-bull-market-not-starting-in-2023\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/bitcoin-bull-market-not-starting-in-2023\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/07\/iStock-1203525550.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/07\/iStock-1203525550.jpg?fit=2127%2C1409"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Best Owie"}],"creator":["Best Owie"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin bull run","bitcoin halving","btc","btcusd","btcusdt"],"dateCreated":"2023-07-26T23:00:43Z","datePublished":"2023-07-26T23:00:43Z","dateModified":"2024-06-11T07:30:53Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Pre-Halving Patterns Suggest Bull Market Is Not Starting In 2023\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-bull-market-not-starting-in-2023\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-bull-market-not-starting-in-2023\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/07\\\/iStock-1203525550.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/07\\\/iStock-1203525550.jpg?fit=2127%2C1409\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Best Owie\"}],\"creator\":[\"Best Owie\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin bull run\",\"bitcoin halving\",\"btc\",\"btcusd\",\"btcusdt\"],\"dateCreated\":\"2023-07-26T23:00:43Z\",\"datePublished\":\"2023-07-26T23:00:43Z\",\"dateModified\":\"2024-06-11T07:30:53Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/07\/iStock-1203525550.jpg?fit=2127%2C1409","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/544496","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/541"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=544496"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/544496\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/544508"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=544496"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=544496"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=544496"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}