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Sirwin

Will Bitcoin Break Its All Time High (ATH) Before The Halving?

By LocoSocioCrypto | LocoSocioCrypto | 20 Feb 2024


As of writing, it is estimated that the next Bitcoin halving will occur on April 19th, 2024. While ultimately I'm disappointed I can't insert a 4/20 joke into my article now, this date is definitely coming up quickly! We are (un)officially only 60 days away from the halving!

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What Does Bitcoin Need To Do To Break The All Time High?

Currently, Bitcoin is sitting at $51,649 USD.

Its previous all time high was $69,044 USD.

This means that in order to beat the all time high in the next 60 days, Bitcoin needs to rise another $17,395 USD.

In percentages, this would require a +33.7% increase in price from today.

So Can It Be Done?

When looked at in percentage, a 33.7% increase over the course of 60 days sounds like nothing in the wild west of the crypto world. Though the chances of Bitcoin rising 33.7% in one day alone at this point is next to impossible, steady gains over the next 30 days, mixed with not too many dips could easily spell success for Bitcoin to beat its all time high, in my opinion.

With the ETFs being approved, the amount of money that can flow in and out of Bitcoin on the daily has risen substantially. With more and more people becoming aware of the halving and its implications on the Bitcoin network, most educated investors will be seeking to get as much as they can over the next little while.

Why Might It Not Break The All Time High Prior To Halving?

Although I make it out as if it is a sure thing that Bitcoin will break its all time high prior to the halving, there are many ways in which it may not. While many cryptos (including Bitcoin) have seen rises of over 30% in a 60 day period = it is still a solidly high gain to shoot for. If many investors get shaky feet and want to lock in profits as Bitcoin rises, the dips could be just as strong as the pumps.

Alternatively there are some who believe the mantra "buy the rumors, sell the news". These type of investors believe that the upcoming halving is already priced into Bitcoin's current value, and that we may in fact see a major dip prior to the all time high.

In these times, I am sticking to my plan of zooming out when in doubt. I'm planning on continuing to DCA my BTC and if and when it breaks its all time high, I'll take a moment to think about how every single Bitcoin investor is in the green!

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***What do you think - will Bitcoin break its ATH before the halving? Leave your prediction in the comments!!!***

 

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LocoSocioCrypto
LocoSocioCrypto

I am interested in the inter-connection between cryptocurrencies, society, and psychology.


LocoSocioCrypto
LocoSocioCrypto

Examining the inter-connection between cryptocurrency, society and psychology.

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