As the Bitcoin Halving is approaching for the fourth time, Lady Crypto, an experienced market analyst and trader, has shared her perspective on the ongoing bull market debate.
After examining the latest market drop and the upcoming Bitcoin halving this month, the crypto analyst expressed her perspectives. She noted that some investors believe Bitcoin could still experience additional price increases since it surpassed its previous record high previously.
Bullish Run Misconception: Bitcoin Can Hit Another ATH?
The Lady of Crypto has expressed skepticism about the idea that the new cryptocurrency bull market will start soon. She believes that previous claims of an early beginning were misleading and possibly based on incorrect information, labeling it as “widespread misinformation.” According to her, the recent price increases should not be taken as indicators of a full-blown bull run.
Prior to The Halving, Bitcoin and other cryptocurrencies have experienced significant declines, according to the analyst. However, it’s important not to be alarmed during this period. She points out that in 2016 and 2020, prior to The Halving, Bitcoin saw drops of 30% and 20%, respectively.
During the time leading up to Bitcoin’s halving event, its price has decreased by more than 17%, while altcoins have dropped by approximately 29%. Lady of Crypto points out that this recent price drop falls within the normal range for pre-halving dips, but it could also be a sign of an unexpected market disruption.
In simpler terms, she points out that while the COVID crisis caused Bitcoin to drop by nearly 60% and altcoins to plummet by over 60%, the recent decline is relatively minor in comparison.
Lady of Crypto explained that Bitcoin Spot ETFs, which allow investors to buy shares representing the value of Bitcoin, have contributed to Bitcoin reaching its high point prematurely. She noted that a large influx of regular investors, or “the masses,” has yet to join the market.
An expert gestures toward social media platforms, indicating a resurgence of public interest in cryptocurrencies. Evidenced by the rising number of YouTube views and subscribers, as well as an increase in new Twitter followers, this trend mirrors the pattern from earlier market cycles.
This Bull Cycle Is Mirroring Past Halving
Lady of Crypto asserts that, except for the initial peak surpassing its previous record in Bitcoin’s current bull run, her observation aligns with the previous two bull markets. The increased volatility she notices, however, indicates this market could potentially be the largest bull market to date.
For underinvested individuals in Bitcoin during a bull market, she recommends viewing dips as opportunities to buy. On the other hand, those already heavily invested have typically benefited from holding onto their crypto assets, pointing towards the significant price drops in 2020 and 2021.
To reassure anxious investors, Lady Crypto explained that there could be various causes for selling frenzies during market upswings. While these occurrences may seem alarming, such as the bull market reaching its peak, they are merely distractions in the grand scheme of things.
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2024-04-16 01:16