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This Is When Bitcoin’s Price Will Break out Before Halving

2 mins
By Evgeniya Likhodey
Translated David Thomas
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In Brief

  • Crypto analyst CryptoCon predicts, based on previous halvings, that Bitcoin (BTC) should break out of its sideways pattern around November.
  • Their thesis argues that BTC has increased ahead of previous halvings, which portends lucrative investment opportunities before 2024.
  • BeInCrypto earlier gathered analyst opinions on maximizing crypto investment returns before and after the BTC spring halving in 2024.
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Analyst CryptoCon argues that crypto investors should review the pre-Bitcoin (BTC) halving behavior to understand how to invest in the current market. Based on previous halving cycles, the analyst expects investors will get the best Bitcoin investment returns at the end of November.

CryptoCon’s thesis is based on analyzing patterns between Bitcoin halving events that reduce the amount of Bitcoin awarded to successful miners. The graphic below shows four curves that track the performance of Bitcoin between halving events.

Studying Previous Halvings for Bitcoin Price Clues

The orange line depicts BTC performance from when the Bitcoin’network launched to the first halving on Nov. 28, 2012. The pink line covers the period between Nov. 28, 2012, and the July 2016 halving.

The blue line depicts BTC performance between the second and third halving on May 11, 2020, while the green line records Bitcoin’s performance since then.

Bitcoin halving price, Bitcoin halving events
Bitcoin cyclical performance | Source: CryptoCon

Analyst Predicts Breakout in November

Recall the next Bitcoin halving will occur in the spring of 2024. The graphs show that the coin’s price follows a cyclical pattern between halvings.

Read more: What is Technical Analysis? Everything You Need to Know

Therefore, it can be assumed that the price of the cryptocurrency will increase before the reduction in Bitcoin block reward next spring. CryptoCon argues that Bitcoin could exhibit positive momentum if it breaks out of a prolonged sideways pattern around Nov. 21, 2023.

Learn how to make money from the Bitcoin halving by using BeInCrypto’s collection of expert opinions on the basics of the event. 

Read more: How To Buy Bitcoin Anonymously (Without ID)

Do you have something to say about the Bitcoin price prediction ahead of the halving or anything else? Please write to us or join the discussion on our Telegram channel. You can also catch us on TikTokFacebook, or X (Twitter).

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David Thomas
David Thomas graduated from the University of Kwa-Zulu Natal in Durban, South Africa, with an Honors degree in electronic engineering. He worked as an engineer for eight years, developing software for industrial processes at South African automation specialist Autotronix (Pty) Ltd., mining control systems for AngloGold Ashanti, and consumer products at Inhep Digital Security, a domestic security company wholly owned by Swedish conglomerate Assa Abloy. He has experience writing software in C,...