- DecenTrader warns that Bitcoin bulls will face a sell-off around the halving event.
- Bitcoin is predicted to break new all-time highs in 2024, but the halving will punish bulls first.
- DecenTrader suggests that Bitcoin will experience about one month of sideways price action before the market reacts to the halving.
Bitcoin Bulls to Face Sell-Off Around the Halving:
DecenTrader has issued a warning to Bitcoin bulls, stating that they will need to navigate a sell-off around the halving event. This is contrary to the belief that this time around, Bitcoin’s price action during the halving will be different than usual.
Predicting New All-Time Highs in 2024:
According to DecenTrader’s analysis, Bitcoin is expected to reach new all-time highs in 2024. However, before that happens, bulls will first be punished by the halving event, which reduces the block subsidy. The market is anticipated to experience about one month of sideways price action before reacting to the halving.
While Bitcoin bulls may face a sell-off around the halving, this does not necessarily mean that the long-term outlook for Bitcoin is negative. The halving event has historically been followed by bullish price movements, and it is likely that the same trend will continue. It is important for traders and investors to keep a long-term perspective and not be swayed by short-term volatility.