As Bitcoin (BTC) moves closer to the 2024 block subsidy halving, many market experts believe it’s prime “buy the dip” territory. The next halving is a little over a year away, and based on previous patterns in price activity during Bitcoin’s four-year “epochs” or halving cycles, many anticipate similar outcomes.
In each cycle so far, there has been a macro high and macro low for BTC price, occurring four years apart. Interestingly, the macro low tends to take place just over a year before the next halving. Longtime crypto figures, like Pete Rizzo, suggest that there’s little reason to think the future will deviate significantly from this pattern.
However, these patterns are not without skepticism. One controversial figure, PlanB, the pseudonymous creator of the Stock-to-Flow (S2F) family of Bitcoin price forecasting models, has argued that half of market participants view the relationship between halvings and price as random. PlanB’s S2F theory itself has drawn widespread criticism, with some believing it has missed price targets from 2021 onwards.
On the other side of the debate, investor and entrepreneur Alistair Milne has further encouraged those looking to profit from BTC exposure. Milne suggests that the best time to buy is now, while the months leading up to the halving are less advantageous entry points.
PlanB continues to believe that BTC/USD remains low, with the upcoming halving not yet given adequate market appreciation. Within the context of how halvings relate to S2F, PlanB recently shared his belief that the 2024 halving will be “very interesting,” while also describing the concept of Bitcoin price increasing as halvings decrease available supply as a “no-brainer.”
These opposing viewpoints highlight the uncertainties and challenges in predicting the future of Bitcoin prices. While the 2024 halving may bring about significant changes in the market, investors must remain cautious and conduct thorough research when making decisions.
It’s important to keep in mind that this article does not contain investment advice or recommendations. All investments and trading moves involve risk, and it’s crucial for individuals to investigate and understand these risks before acting on any information or advice. As the 2024 halving approaches, the crypto market will continue to evolve, and knowledgeable investors will be better prepared to navigate the opportunities and challenges that lie ahead.
Source: Cointelegraph
