Shiba Inu marketing lead LUCIE has shared her insights on the upcoming Bitcoin bull run and when it is expected to kick off in full swing. She refers to the historical pattern of the Bitcoin post-halving rally, which has often signaled the start of a new bull market. Based on past performance, it is speculated that the market may be gearing up for another significant bull run after the halving in 2024.
In a post on the X platform (formerly Twitter), LUCIE, who has a following of 144,000 users, highlighted her expectations regarding the commencement of the Bitcoin bull run. She referenced previous bull cycles and the timeframes it took for the rallies to kick off following each Bitcoin halving event.
Looking back at the first halving in 2012, it took almost a year for the BTC price to start trending upwards after the reduction in supply volume. This led to a prolonged bull market that propelled the Bitcoin price to new all-time highs. Similarly, in 2016, a comparable scenario unfolded.
The 2016 Bitcoin halving witnessed a shorter timeframe before the onset of the bull market post-halving. In contrast to the 2021 bull market, the rally in 2016 began just six months after the halving. Moving ahead to 2020, a similar trend was observed, with the BTC price starting to climb around 5-6 months post-halving.
Based on this established timeframe, it suggests that the Bitcoin bull market could be just a couple of months away. Considering the average six-month period and the fact that the Bitcoin halving occurred in April 2024, it points to the potential start of the next bull cycle around October 2024.
Nevertheless, the Shiba Inu marketing lead cautions investors that this prediction is not an exact science, as various other factors can influence the price. She emphasized that while the market is influenced by factors like adoption, macro trends, and sentiment, the pattern of post-halving rallies is hard to ignore.
Despite a significant market crash in early August, the Bitcoin price remains at a level that is high enough that a 30% increase from the current point would set a new all-time high. If the BTC price maintains its current level and the anticipated bull run commences in a few months as projected, a new all-time high could be within reach.
As of the latest update, the Bitcoin price is still holding above $60,000, with a slight decrease of 1.72% in the last 24 hours but showing gains of 5.58% on the weekly chart.
In conclusion, the anticipation of the next Bitcoin bull run is building up, with historical patterns suggesting a potential rally starting around October 2024. While the market remains subject to various influencing factors, the possibility of a new all-time high for Bitcoin is on the horizon if the predicted bull run materializes as expected.
