Shiba Inu marketing lead LUCIE has chimed in on the Bitcoin bull run debate and when it is likely to begin in full force. She uses the legendary Bitcoin post-halving rally that has often even the start of a new bull run. According to historical performance, the market could be drawing toward another notable bull rally after the halving in 2024.
Mapping The Bitcoin Post-Halving Rallies
In a post on the X (formerly Twitter) platform, Shiba Inu marketing executive LUCIE told her 144,000 followers when she expected the Bitcoin bull run to begin. The post points to previous bull cycles and the timeframe it took for the rallies to begin after each Bitcoin halving.
For starters, after the very first halving in 2012, the BTC price would take almost a year before the reduction in supply volume triggered an uptrend. The result was a drawn-out bull market that pushed the Bitcoin price to new all-time highs. Then again, in 2016, the market witnessed a similar move.
The 2016 Bitcoin halving marked a shorter timeframe before the bull market following a halving. Unlike the previous bull market in 2021, the 2016 bull rally began just six months after the halving was completed. Fast forward to 2020, a similar trend would take place, with the BTC price move upward beginning around 5-6 months post-halving.
Using this established timeframe, it would mean that the Bitcoin bull market is just a couple of months away. Using the average six months and the fact that the Bitcoin halving happened in April 2024, it would put the start of the next bull cycle right around October 2024.
However, the Shiba Inu marketing lead warns investors that this is not an exact science, given that other factors can affect the price. “The market’s influenced by many things—adoption, macro trends, sentiment—but the pattern is hard to ignore,” she concluded.
CALM DOWN 😵💫😏
🔥Is the Next Bull Run Just Months Away?🔥
Bitcoin’s past tells an interesting story: major bull runs often follow its halving events, but it’s not instant—there’s usually a waiting period. Historically, we’ve seen that surge happen around 4-6 months after the… pic.twitter.com/tD8B2uZMnY
— 𝐋𝐔𝐂𝐈𝐄 (@LucieSHIB) August 22, 2024
BTC Bull Market Could Push For New ATHs
Despite a nasty crash that rocked the market in early August, the Bitcoin price is still at a level high enough that 30% push from here would put it at a new all-time high. So, if the BTC price does maintain this level, and the bull run begins a few months from now as predicted, then a new all-time high could be on the horizon.
At the time of writing, the Bitcoin price is still holding above $60,000, notching losses of 1.72% in the last 24 hours. However, it is still seeing 5.58% gains on the weekly chart.
Featured image created with Dall.E, chart from Tradingview.com
Source: https://bitcoinist.com/shiba-inu-bitcoin-bull-run/