Chris Curl,
Editor
April 11, 2024
The halving is almost here!
In fact, it’s set to occur sometime between April 18th-20th. And when it does, I think it will trigger the next and most explosive phase of the crypto bull market.
I’ve been preparing for it all year and have been guiding my readers into the projects that will see outsized gains in the months ahead.
I think it’s important to view Bitcoin’s price performance after previous halvings to highlight what will likely come next for the cryptocurrency market.
As Mark Twain famously said, “History Doesn't Repeat Itself, but It Often Rhymes.”
In 2012, the year of Bitcoin's first halving, the price action on the day itself was relatively muted, moving sideways. However, what followed was nothing short of spectacular, as Bitcoin's value soared from $12 to $1,166 after the halving, marking a 9,500% increase within just 380 days.
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This was the first major indication of how halving events could serve as catalysts for significant price movements.
The 2016 halving event followed a similar initial pattern, with Bitcoin's price doing little on the day of the halving. Despite a 29% drop shortly after, the market quickly regained its momentum, propelling the cryptocurrency from $470 to an impressive $19,600. This equated to a 4,100% increase over the span of approximately 500 days, underscoring the potential long-term benefits of the halving events despite short-term volatility.
In 2020, the narrative continued with a slight twist. Bitcoin experienced a 17% dip just days before the halving, followed by months of sideways trading. Yet, the resilience of Bitcoin shone through once more, with its price skyrocketing from $8,700 to an astonishing peak of $69,000 in just 547 days post-halving.
Fast forward to 2024, Bitcoin is again approaching a halving event, this time with unprecedented momentum. For the first time, the price has reached a new all-time high (ATH) before the halving and is currently consolidating near this peak, boasting the highest weekly, monthly, and quarterly close in its history.
Given the historical context, the upcoming halving looks poised for a similar move. Ignore short-term price movement. Bitcoin's price is gearing up to explode much higher in the months ahead.
I’m so excited about this that I’ve released a must-watch video with my colleague John Carl. It explains everything you need to know about the Bitcoin halving and, most importantly, how to profit from it.
You can watch it right here.
Keep coming back,
Chris Curl
Editor, Daily Profit Cycle