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    Home » Bitcoin Enters a Boring Phase but This Could Soon Change
    Bitcoin

    Bitcoin Enters a Boring Phase but This Could Soon Change

    By adminJun. 21, 2024No Comments2 Mins Read
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    Bitcoin Enters a Boring Phase but This Could Soon Change
    Bitcoin Enters a Boring Phase but This Could Soon Change
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    Real Vision macro expert Julian Bittel believes that Bitcoin (BTC) is on the verge of a massive rebound, based on historical patterns.

    Bittel explains that Bitcoin is currently in the typical “boring” phase that often precedes a significant rally, which usually occurs after halving events.

    What we’re currently witnessing in terms of Bitcoin price action is fairly typical around the actual halving: A big pump leading into the halving, followed by a brief but sharp correction, a period of sideways chop, a final dump to nuke any remaining bullish sentiment, another… pic.twitter.com/n25WWI1fYp

    — Julien Bittel, CFA (@BittelJulien) June 18, 2024

    He describes the typical sequence around the Bitcoin halving: a strong rally preceding the event, followed by a sharp correction, a period of sideways movement, a final decline to shake off any remaining bullish sentiment, another phase of sideways trading, and finally, a price increase.

    Bittel calls this the “boring zone before the banana zone” and urges patience.

    Read more:

    Crypto Whale bought nearly $40 billion worth of Bitcoin during the last dip.

    Based on his analysis, Bittel predicts that Bitcoin could reach $240,000 by May 2025.

    Currently, Bitcoin is trading at a price of $64,600, showing a slight increase in the last 24 hours.

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