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Despite an overall depressed market and now the specter of another war as tensions escalate in the Middle East, crypto experts and executives remain confident for the future.  Many have been sharing their thoughts recently, and the Bitcoin halving narrative seems to be strengthening. There are various counters, but the general consensus is that this will occur in late April or early May 2024.  On Oct. 8, Capriole Fund founder Charles Edwards said that 44% of all of Bitcoin’s returns have occurred in the 12 months after each halving. “In other words, all of Bitcoin’s cycle returns can be expected to occur soon,” he added.  Are you ready for 2024? 44% of all of Bitcoin’s returns have occurred in the 12 months after each Halving. Including the extra 6 months in 2017 (red here) captures 150% of Bitcoin’s all time returns! In other words, all of Bitcoin’s cycle returns can be expected to occur soon. pic.twitter.com/50oVdBuiUx — Charles Edwards (@caprioleio) October 8, 2023 Market Sentiment Slowly Improving Binance CEO Changpeng Zhao added to the sentiment after announcing that the exchange has put a halving countdown. He added his experience based on the past three halvings:  “The day after the halving, the Bitcoin price won’t double overnight. And people will be asking why it didn’t. The year after the halving, Bitcoin price hits multiple ATH. And people ask why. People have short memories.” On-chain analytics provider Santiment observed large exchange outflows over the weekend as the asset made another attempt at $28K.  Meanwhile, technical analyst “CryptoCon” observed Bitcoin “chop zones,” noting that things have moved out of the red bear market zone in preparation for another potential leg higher.  “Unless you have a black swan, the blue lights end the red times for good until the next bear market,” he said.…

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Filed under: News - @ October 9, 2023 2:20 pm