Time is running out until Bitcoin’s fourth halving. As early as April 2024, there will be a reduction in the reward for miners from 6.25 BTC to 3.125 BTC for mining a block. According to some analysts of the cryptocurrency market, the current period is the best time to accumulate and use the strategy of dollar cost averaging (DCA).

Moreover, if history rhymes and the supply shock affects the economics and valuation of Bitcoin again, the largest cryptocurrency could soon experience a parabolic surge. Typically, periods of 12-18 months after a halving have been characterized by a large appreciation in the BTC price.

$120,000 Bitcoin at Peak of Upcoming Bull Market

Renowned cryptocurrency market analyst @Negentropic_ published his macro technical analysis of the BTC price chart on X. At the beginning, he referenced a quote from Mark Twain that is well-known in the cryptocurrency world: “History does not repeat itself – but it often rhymes.”

This saying, in relation to traditional financial markets and cryptocurrencies, points to their cyclical and fractal nature. While many of the determinants of an asset’s price differ in successive eras of its trading history, very similar macroscopic price patterns can often be identified.

@Negentropic_ points to one pattern he has noticed in 3 consecutive Bitcoin cycles. Namely, in his view, in 2017, 2020, and currently, Bitcoin underwent a similar correction in the form of

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Author: Jakub Dziadkowiec

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