Bitcoin’s halving cycle is once again creating a stir and hinting at a potential shift in BTC price action as we approach the fourth quarter of 2023. Sensing the opportunity, savvy investors are already making moves to capitalize on the possible gains.
Filbfilb, co-founder of the crypto analytics platform Decentrader, takes a close look at the Bitcoin halving cycle to predict a stagnant BTC price until at least the end of the year. Despite recording a bullish 70% gain in the first quarter of 2023, Filbfilb believes that Bitcoin is currently experiencing a typical halving cycle consolidation period and is likely to remain rangebound until Q4.
The Bitcoin halving cycle is a key factor to consider when predicting price movements. As the halving approaches – around 1,276 days after the previous halving – miners will become increasingly motivated to secure prices above marginal costs. This effect, combined with an influx of new capital driven by speculation, could result in a surge of market activity in the fourth quarter.
Although Filbfilb’s analysis is insightful, it’s important to remember that the cryptocurrency market is highly volatile and unpredictable. Therefore, it’s essential that users undertake their own research and risk assessment prior to making any investments.
Crypto.news is the original source for this article, which provides an in-depth look at the Bitcoin halving cycle and its potential impact on BTC price action ahead of the fourth quarter of 2023.