The Clock Is Ticking: Bitcoin Could Make History With Biggest Sideways Move Ever
CryptoQuant CEO Ki Young Ju brought up a historic milestone that Bitcoin is about to reach in 2024. He highlighted that 285 days have passed since the beginning of the year without the asset having started a significant bull cycle , which would be expected in a halving year. Traditionally, the halving of Bitcoin mining rewards creates pressure on supply, which tends to boost the price, something that has not materialized so far.
If Bitcoin continues this horizontal consolidation pattern over the next two weeks, we will be facing the longest period of stability in a halving year in cryptocurrency history. Such a situation may indicate changes in traditional market cycles or reflect greater uncertainty about the real impact of this halving.
This scenario raises questions about the influence of macroeconomic factors, such as global monetary policy, or whether there are other dynamics in the cryptoasset market that are postponing the start of a new cycle of Bitcoin appreciation.
Stay tuned for the full analysis to be published later today.
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