Bitcoin is poised for a promising future as it moves closer to the 2024 block subsidy halving, according to market analysts. Bitcoin halving cycles tend to follow a particular pattern that dictates the price activity during a given period. It is anticipated that these cycles will contain a macro high and macro low for BTC price, with these events occurring four years apart from one another. Additionally, it is expected that the macro low will tend to occur a little over one year before the next halving. Market experts, including crypto media guru Pete Rizzo, believe that the future will be no different. He advised investors to plan accordingly, as the world’s most valuable currency is only designed to become rarer over time.

The Time to Buy is Now

Investor and entrepreneur Alistair Milne suggested that those looking to profit from BTC exposure should purchase Bitcoin now, as the months before the halving are not as beneficial entry points. Milne advised investors not to short when Bitcoin is dark green and to be all in before it turns blue. To support his sentiment, he referred to a chart that outlined Bitcoin price behavior concerning how many months remained before a halving event.

Another well-known Bitcoin industry figure, PlanB, the pseudonymous creator of the Stock-to-Flow (S2F) family of Bitcoin price forecasting models, also emphasized the significance of the upcoming halving. PlanB claimed that half of market participants considered the relationship between halvings and price to be random. He believes that halvings are key to S2F, but critics of the theory focus on auto-correlation between halvings and conclude that there is no relation between S2F/halvings and price. PlanB disagrees and called the idea of Bitcoin price increasing as halvings decrease available supply a “no-brainer”. He anticipates that the 2024 halving will be very interesting.

Analysis

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