The post Are We Heading for a Bullish Run or a Market Stalemate? appeared on BitcoinEthereumNews.com.

The most recent Bitcoin Halving event took place on April 19, 2024. Investors had great expectations for this latest halving year, as in the previous halving year, the Bitcoin market delivered an impressive return of +304.1%, leaving investors excited at the prospect of similar gains in 2024. But not everyone is sharing the same rosy outlook. Ki Young Ju, a seasoned crypto analyst, has cast a shadow of doubt over the potential for another blockbuster year. In a recent post on X, Ju raised concerns about whether 2024 can truly live up to the hype surrounding past halving events. Read on to know more. Bitcoin’s Halving History: A Look Back There have now been four Bitcoin halving events, including the one in 2024. The first occurred in 2012, with Bitcoin posting a solid 183.5% return for the year. Although this was impressive, it was far below the incredible 1,435% return from the year before. By the second halving in 2016, a new pattern emerged. Bitcoin’s price rose 123.8% that year, a much higher gain than the 34.4% increase seen in the previous year. The trend continued in the third halving year in 2020, where Bitcoin surged 304.1%, more than triple the previous year’s 90.9% return. In 2023, Bitcoin returned 155.4%. If the trend holds, Bitcoin will need to outperform this number in 2024. Currently, the price is $60,788, up just 37.61% from its starting price of $44,172.80 at the beginning of the year, a figure that’s not very encouraging. Sideways Movement Threatens 2024’s Record Ki Young Ju recently noted that 285 days have passed in 2024 with no major price moves. He warned that if Bitcoin doesn’t show significant momentum in the next 14 days, this could mark the longest sideways period in any halving year. To illustrate this, he…

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Filed under: News - @ October 11, 2024 11:19 am