Coinbry

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Bitcoin analysts anticipate November to mirror previous cycles as price action gains attention

Bitcoin analysts anticipate November to mirror previous cycles as price action gains attention

Bitcoin’s recent sideways price action is reminiscent of previous cycles leading up to a halving event, suggesting a potential bullish flip in November. Historical data shows that Bitcoin’s price tends to start trending upward around November, following months of sideways trading. Analysts and observers have noted similarities between the current price patterns and those seen in 2015 and 2019. Some predict a potential “dump” or bottom for Bitcoin around November 10-15. The upcoming Bitcoin halving is expected to occur in late April or early May 2024, and many believe that the next major bull market will follow the halving. However, there are differing opinions on the factors driving Bitcoin’s price surge, with some attributing it to macroeconomic factors and others to the halving event.

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