Analyst Sees Promising Future for Bitcoin, Anticipates Impact 300 Days from Now
In the wake of Bitcoin’s recent all-time high in March, the leading cryptocurrency faced a series of setbacks, dropping to $53,000 levels. However, a strong recovery in recent weeks has pushed BTC towards the $70,000 mark, with analysts attributing the shift in investor sentiment to Donald Trump’s positive speech at the Bitcoin 2024 Conference. While many experts focused on this factor, Andre Dragosch, head of research at ETC Group, provided a more technical perspective on the rise.
Dragosch pointed out an interesting pattern related to Bitcoin’s halving event, which occurred in April. He noted that historical data suggests the upward effect of the halving usually materializes around 100 days later. With this in mind, Dragosch expects the bullish momentum in Bitcoin to gain further traction, culminating in a true surge around 400 days after the halving.
Supporting his analysis, Dragosch referred to the performance data before and after the three halvings that took place in 2012, 2016, and 2020. He emphasized that the bull effect caused by the halvings tends to occur roughly 100 days following the event. Dragosch said he reached this conclusion by examining the price movements and trends during those periods.
In an interview with Coindesk, Dragosch emphasized that BTC’s rise tends to accelerate after the 100th day post-halving. He also shared graphs illustrating this prediction. According to these graphs, the “T” value rises above 2 exactly 100 days after the halving and continues to increase from that point onwards. The peak is reached approximately 400 days after the halving.
Dragosch’s analysis suggests that the bull trend induced by the halving has slowly begun and will fully manifest itself 400 days after the halving. With 100 days already passed, his chart indicates there are approximately 300 days remaining until the 400th day after the halving. This timeframe equates to roughly 10 months, pointing towards May 2025.
It’s important to note that the information provided here is not intended as investment advice.