CandleFocus

Bitcoin on track for longest flat market in halving year history

Author: Content Editor
Bitcoin is currently experiencing its longest period of sideways trading during a halving year. Historical data shows that the longest time it took for Bitcoin to rise was 298 days. The year 2020 saw Bitcoin achieve its highest return index during a halving year, while 2016 had the worst returns. This year, Bitcoin reached a new all-time high before the halving for the first time. However, the multiple corrections since the halving have slowed down the post-halving bull run. The market is now showing behavior that suggests a reduction in the acceleration period. The re-accumulation period after each halving is already the longest since 2016, and Bitcoin has been trading sideways for 176 days. It is predicted that this sideways period could continue for another two months, making it the longest re-accumulation range during a halving year.

Related News