Shiba Inu marketing lead LUCIE has chimed in on the Bitcoin bull run debate and when it’s more likely to begin in full force. She uses the legendary Bitcoin post-halving rally that has often even the beginning of a recent bull run. In accordance with historical performance, the market may very well be drawing toward one other notable bull rally after the halving in 2024.
Mapping The Bitcoin Post-Halving Rallies
In a post on the X (formerly Twitter) platform, Shiba Inu marketing executive LUCIE told her 144,000 followers when she expected the Bitcoin bull run to start. The post points to previous bull cycles and the timeframe it took for the rallies to start after each Bitcoin halving.
For starters, after the very first halving in 2012, the BTC price would take almost a 12 months before the reduction in supply volume triggered an uptrend. The result was a drawn-out bull market that pushed the Bitcoin price to recent all-time highs. However, in 2016, the market witnessed the same move.
The 2016 Bitcoin halving marked a shorter timeframe before the bull market following a halving. Unlike the previous bull market in 2021, the 2016 bull rally began just six months after the halving was accomplished. Fast forward to 2020, the same trend would happen, with the BTC price move upward starting around 5-6 months post-halving.
Using this established timeframe, it will mean that the Bitcoin bull market is just a few months away. Using the typical six months and the incontrovertible fact that the Bitcoin halving happened in April 2024, it will put the beginning of the following bull cycle right around October 2024.
Nevertheless, the Shiba Inu marketing lead warns investors that this just isn’t a precise science, provided that other aspects can affect the worth. “The market’s influenced by many things—adoption, macro trends, sentiment—however the pattern is difficult to disregard,” she concluded.
CALM DOWN 😵💫😏
🔥Is the Next Bull Run Just Months Away?🔥
Bitcoin’s past tells an interesting story: major bull runs often follow its halving events, nevertheless it’s not quick—there’s often a waiting period. Historically, we’ve seen that surge occur around 4-6 months after the… pic.twitter.com/tD8B2uZMnY
— 𝐋𝐔𝐂𝐈𝐄 (@LucieSHIB) August 22, 2024
BTC Bull Market Could Push For Latest ATHs
Despite a nasty crash that rocked the market in early August, the Bitcoin price continues to be at a level high enough that 30% push from here would put it at a recent all-time high. So, if the BTC price does maintain this level, and the bull run begins a couple of months from now as predicted, then a recent all-time high may very well be on the horizon.
On the time of writing, the Bitcoin price continues to be holding above $60,000, notching losses of 1.72% within the last 24 hours. Nevertheless, it continues to be seeing 5.58% gains on the weekly chart.
Featured image created with Dall.E, chart from Tradingview.com