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Day: April 19, 2024

Analyst Foresees Unconventional Bull Run for Bitcoin Post-Halving Despite Price Contractions

Analyst Foresees Unconventional Bull Run for Bitcoin Post-Halving Despite Price Contractions

Bitcoin‘s price movements in the market ahead of the Halving event have defied expectations, with the coin charting its path contrary to analysts’ predictions.  Despite this unpredictability, one analyst foresees a bullish trend post-Halving, citing instances where Bitcoin has diverged from historical trends.  In the past, Bitcoin experienced sharp contractions after significant rallies, but it rebounded unexpectedly, breaking previous all-time highs before the Halving event.  This analyst anticipates a similar scenario, suggesting that Bitcoin may outperform altcoins due to increased regulatory scrutiny and its status as the only cryptocurrency with a U.S. SEC-approved ETF.  Despite current bearish formations, the analyst believes Bitcoin could enter a multi-year “up only” phase akin to gold’s trajectory post-ETF approval. Source: NEWSBTC