Bitcoin (BTC) 
$60,844may experience a first in its history. According to the statement of CryptoQuant CEO Ki Young Ju, the expected bull market in BTC could not start in the 285 days since the beginning of the year. If this movement does not occur within the next 14 days, 2024 will witness the longest horizontal market period among the halving years.
2024 May Go Down in History as the “Longest Consolidation Year”
Bitcoin’s four-year event block reward halving It often causes large price increases in the cryptocurrency market. This situation is associated with restricting supply and increasing demand. However, 2024 may break this cycle. While prices rose relatively early in the previous halving years of 2012, 2016 and 2020, this has not yet happened in 2024. According to current data, time is running out for the market to recover and the expected bull run to begin.
Even though we have entered the last quarter of the year price of bitcoinThere was no serious upward trend in . While the expectation of a bull run in 2024 is high since it is the year of the block reward halving, price movements do not support this expectation. If Bitcoin’s price does not begin a bull run in the next 14 days, this will go down in history as the longest consolidation period in block reward halving years.
What Do Investors Expect?
Investors and market analysts are wondering whether Bitcoin will experience a delayed price explosion compared to previous block reward halving cycles. The slow performance seen so far, especially in the 2024 block reward halving cycle, has led to mixed reactions among market players. While some think that the bull market is inevitable and will start soon, although delayed, others think that the biggest cryptocurrencyHe is of the opinion that this time may not make the expected debut.
This statement made by Ju on social media reveals the current situation of the market and offers valuable clues to investors about what path Bitcoin will follow in the next two weeks.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
