Bitcoin (BTC) Is Set to Experience Its Longest Period of Sideways Trading During a Halving Year

If BTC doesn't show significant upward movement within the next 14 days, it will be on track to experience its longest period of sideways trading during a halving year.

If Bitcoin (BTC) fails to show any significant upward movement within the next 14 days, it will mark the longest period of sideways trading during a halving year.

According to a dashboard shared by CryptoQuant CEO Ki Young Ju, the longest time BTC took to rise was 298 days.

Moreover, BTC achieved its highest return index during a halving year in 2020, hitting 4.05 points, while 2016 marked the worst halving year in terms of returns with the index only reaching 2.26 points.

Despite being the second-best performing year, 2012 registered the strongest start after 298 days, achieving 2.06 points in the return index.

This year also saw a major milestone as Bitcoin reached a new all-time high before the halving for the first time in its 15-year history. Based on historical data, BTC hit new all-time highs roughly 240 days after a halving event over the past four cycles. However, this trend was broken this year when the BTC price peaked at $73,737.94 on March 14, essentially accelerating the post-halving bull run by 260 days.

However, the multiple corrections registered since the halving have lowered the acceleration rate to 60 days, according to an analyst and trader known as Rekt Capital. The analyst further suggested that the market is showing behavior that could reduce this acceleration period.

Additionally, the historical “re-accumulation period” seen after each Bitcoin halving — when the price trades sideways before a parabolic upward movement — is already the longest since at least 2016.

While it took 161 days after the halving for BTC to begin its all-time high climb in 2016 and 164 days in 2020, BTC has now been trading sideways for 176 days as of Oct. 11.

Since BTC is already overdue to break out of the re-accumulation range between the $71,000 and $60,000 price zones, Rekt Capital predicts that the sideways period could continue for another two months. This would allow enough time to reduce the acceleration rate to zero.

That would take the re-accumulation range to 236 days, making it the longest of all time during a halving year.

Mentioned in this articleGino MatosGino Matos is a law school graduate and a seasoned journalist with six years of experience in the crypto industry. His expertise primarily focuses on the Brazilian blockchain ecosystem and developments in decentralized finance (DeFi).Assad JafriAJ, a passionate journalist since Yemen's 2011 Arab Spring, has honed his skills worldwide for over a decade. Specializing in financial journalism, he now focuses on crypto reporting.Latest TRON StoriesTRON DAO hosted the TRON Builder Tour at Columbia University with Blockchain at Columbia and Boston University BlockchainLatest Bitcoin StoriesMetaplanet acquires additional 108 BTC in efforts to dethrone Meitu as Asia’s top Bitcoin holderMetaplanet's quest for 1000 BTC is fuelling a remarkable 500% stock rally. South Korea to discuss approval of spot Bitcoin ETFsThe newly formed Virtual Asset Committee will discuss the approval of crypto ETFs and authorization of corporate accounts.SEC charges Cumberland DRW for unregistered securities trading in $2B caseThe market maker claims that it won't change the framework for its operations following the regulator charges.Crypto top two choice for ETF investors in latest Charles Schwab surveyCrypto ranks second in popularity among all investor asset classes, with 62% of Millennials planning portfolio allocations.Latest Press ReleasesYala completes Seed Round co-led by Polychain Capital and Ethereal VenturesConstellation Network, the DoD-vetted blockchain for Big Data, unveils Panasonic partnership details at its October HyDef ConferenceBitMEX launches Automated Trading Bots for Effortless Crypto Trades

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