Bitcoin: With the Halving on the Horizon, What’s Next?

Bitcoin's market cycles, typically lasting four years, have shown a consistent pattern of bullish trends followed by corrective bearish phases.

The recent downturn, witnessing BTC’s substantial drop from $68.8k in November 2021 to a low of $16.4k in December 2022, echoes this historical cycle. Ali Martinez’s comprehensive chart analysis spanning 2014 to 2025 underscores the significance of these cycles, driven primarily by halving events occurring roughly every four years, historically resulting in notable surges in BTC’s valuation.

#Bitcoin design around four-year cycles, driven by its #halving events, often mirrors its price action.

Historically, this translates to 3 years of bullish trends followed by 1 year of bearish correction. As per this cycle, $BTC is in an upward phase, potentially extending… pic.twitter.com/7B4sIpiWH8

— Ali (@ali_charts) December 29, 2023

Martinez’s projections suggest an optimistic trajectory for Bitcoin, envisioning a bullish phase persisting from January 2023 to December 2025. This positive trend defied odds amid legal battles and regulatory hurdles, showcasing Bitcoin’s resilience with an impressive 170% surge in value throughout 2023.

Anticipation looms around the next halving event, anticipated around April 20, 2024, projected to decrease block rewards from 6.25 BTC to 3.125 BTC. The impact of this forthcoming halving has already made noticeable ripples in Bitcoin’s recent upward price movement.

Currently, Bitcoin maintains stability around the $42,916 mark, fluctuating within a 24-hour range between $42,216 and $43,202. However, the decline in trading volume by 7% signals a waning interest among traders in recent times.

Amidst these market movements, various factors contribute to the ongoing surge in Bitcoin’s value, including the potential approval of a spot Bitcoin ETF by the US SEC and favorable market sentiments stemming from rate adjustments made by the US Federal Reserve.

Author

Alexander Stefanov

Reporter at CoinsPress

Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.