This Bitcoin Bull Run Is Unlike Previous Cycles

Bitcoin is expected to surge strongly following the halving event in the summer. Several anomalies indicate that this time around could be markedly different.

Azcnews (3)

Bitcoin has been on a strong uptrend since late October 2023, which is evident from the price chart. However, it is still unclear what will happen next.

Signals from whales

CryptoQuant user joaowedson pointed out that the Whale’s most recent 7-30 day indicator is increasing from March 2023. During the previous bullish period, whale activity increased in mid-2020, while Bitcoin price also increased sharply.

BTC Whale Activity

Source: CryptoQuant Insights

A similar situation has been occurring over the past 6-8 months, with the indicator starting to move significantly higher.

In addition to watching the price chart, the whale indicator is also another sign that the current uptrend could be a long-term rally starting from the $30K price level.

Check miner behavior

The reduction of the miner’s reward from 6.25 BTC to 3.125 BTC after the halving event is becoming a topic of interest to many people. This could cause many miners to shut down if Bitcoin prices do not rise higher to compensate.

Another solution could be to reduce the network hash rate and subsequent mining difficulty, but this is very difficult to do.

The miner stock chart from CryptoQuant shows a gradual decrease since November 2023. This gradual decrease has been coupled with price increases in the last two cycles.

BTC Miner Reserve

Source: CryptoQuant

Therefore, there are various signs proving that Bitcoin could begin a long-term bull run ahead of the halving event. Bitcoin also reached an all-time high price before the halving, which is new compared to previous cycles.

The importance of miners’ Bitcoin transactions also decreased over successive cycles. This may continue as whales and institutional investors become important players. In this case, the halving event could become a “news sale event”.

Related: Bitcoin Slides to $69,000 Alongside Negative Signals

With whale activity and miner reserve data, along with price charts, supporting the idea of a current bull run, the question of “when will the cycle end” has become important than.

Previous cycle peaks occurred between 526 and 547 days after the halving event. Can the duration of this cycle be significantly shortened after the last 6-8 months? Only time will tell.


(2 votes)
  1. Avatar of 宋举红


  2. Avatar of Ugwu Crescent Odo
    Ugwu Crescent Odo

    Time will really tell. Optimism is the life’s propeller.

Leave a Reply

Your email address will not be published. Required fields are marked *


What Is Dogecoin Azc

Editor Choice | Research | research

What is Dogecoin? Exploring the World of the Memecoin DOGE

Memecoins have become a major trend in the crypto space, with many projects reaching billion-dollar market capitalizations. Dogecoin is considered a pioneering project that kicked off the memecoin craze. So, what is Dogecoin? Let's find out!

What Is A Cold Wallet Azc

Research | Editor Choice | research

What is a Cold Wallet? Top 3 Best Cold Wallets in the Crypto Market

Is a cold wallet an effective tool for storing cryptocurrencies? So, what is a cold wallet? What are some recommended types of hardware wallets to use? Let's find out together!

Azcnews Ctk Soars 100% In One Hour Ahead Of Major Update

News | Altcoin | Editor Choice

CTK Soars 100% in One Hour Ahead of Major Update

The price of the CTK token doubled within an hour ahead of the upcoming Shentu v2.10.0 update.

Azcnews A Major Uk Bank Officially Bans Cryptocurrency Transactions

News | Editor Choice | Policy & Regulations

A Major UK Bank Officially Bans Cryptocurrency Transactions

Starting May 30, the UK digital bank Kroo will prohibit its customers from conducting cryptocurrency transactions.

An Investor Becomes A Millionaire Thanks To Memecoin Shiba Inu

Altcoin | Editor Choice

An Investor Becomes a Millionaire Thanks to Memecoin Shiba Inu

An investor became a millionaire by holding Shiba Inu for 3 years, turning $2,700 into $1.2 million.