#Bitcoin
While history doesn't repeat itself, it often follows similar patterns. After the bear market bottom around $15,500, we've seen Bitcoin go through sideways price action before every leg up.
Observing closely, you'll notice that during each consolidation phase, there are fakeouts on both ends before a strong upwards move.
Most of these consolidation lasted under 10 weeks, with the longest one lasting around 30 weeks.
Many traders get chopped out by the short-term price movements during this consolidation phase, while Bitcoin continues printing new highs.
Ignore the short term volatility, if the larger picture is looking bullish AF🤝
Ever wondered what #Bitcoin did on the halving day?
In 2012, BTC moved sideways on the halving day and then pumped from $12 to $1166 after the halving. That's a 9500% increase in just 380 days.
In 2016, BTC also moved sideways on the halving day and then dropped by -29% a few days after the halving, followed by a quick recovery. The price surged from $470 to $19600, marking a 4100% increase in just 500 days.
In 2020, BTC took a minor -17% dip just a few days before the halving, followed by a few months of sideways price action. Price pumped from $8700 to $69,000 in just 547 days.
In 2024, BTC is only 2 weeks away from the halving. This is the first time the price has hit a new ATH before the halving and is currently consolidating near the ATH with one of the highest monthly close ever.
Whether we see sideways price action or a slight correction, one thing is certain -
Bitcoin will likely trade much higher in the coming few months than its current level.
Dips are for buying , Don't get shaken out 🤝
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