The article discusses the Bitcoin halving event that occurred on April 19, 2024, where the block rewards for miners halved from 6.250 BTC to 3.125 BTC. Historically, this event has led to a bull market for Bitcoin. Analysts are now trying to predict when the next bull market will begin based on past patterns. One analyst suggests that the average Bitcoin bull market starts around 170 days after the halving, which means a bullish turn could occur in about 20 days if historical trends hold. Another analyst highlights the impressive quarterly returns in previous halving years and forecasts opportunities for growth in 2025. The article also mentions key price levels that investors should monitor, including $62,000, $55,000, $43,000, and $27,000, which represent average cost bases for different groups of investors and act as psychological and technical markers. The interaction of these price thresholds with historical patterns will be crucial in determining Bitcoin's short-term price movements as the countdown to the bull market continues.



Other News from Today