Bitcoin (BTC) Might Meet 'Key Pivot Point' on Nov. 21, Here's Why

Blockchain and DeFi analyst Miles Deutscher compared the performance of the Bitcoin price in the last prehalving months in its second and third cycles. Based on these observations, he recommends Bitcoiners pay attention to one date.Despite a changed regulatory and macroeconomics context, the price of Bitcoin , the largest cryptocurrency, is still mirroring its latest two cycles.

This phase is typically associated with Q2, Q3, and Q4 in pre-halving years . So far, Bitcoin's history repeats itself, as Deutscher demonstrated on the chart. As such, in the last days of November, we should be prepared for the powerful price action based on previous BTC performance, Deutscher indicated:November 21st has historically been the key pivot point for a bullish shift. Will be interesting to see how $BTC responds.The fourth Bitcoin halving is set to happen on March 28, 2024. Rewards for Bitcoin miners will be reduced by 50%: only 3,25 Bitcoin per block will be distributed starting from next March.

However, Bitcoin's monthly performance repeats itself in various years. Based on previous events, in 2018-2023, Bitcoin only once managed to close November and December in the green. By contrast, October was bullish 9 times out of 11 years of Bitcoin's history.XRP Pool Among 12 to Exit Binance Liquidity Swap

Coin Coin Latest News, Coin Coin Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Bitcoin holders get clean slate; Will BTC price choose $30,000 or $25,000?Bitcoin (BTC) price shows indecision as it trades roughly around the $28,000 level. A look at on-chain metrics reveals why sideways movement is predom
Source: FXStreetNews - 🏆 14. / 72 Read more »

War, CPI and $28K BTC price — 5 things to know in Bitcoin this weekBitcoin enters a volatile macro week, with the BTC price still to react to geopolitical tension.
Source: Cointelegraph - 🏆 562. / 51 Read more »

Bitcoin (BTC) Price Eyes $28K as Altcoins Bleed Out (Market Watch)Crypto Blog
Source: Crypto_Potato - 🏆 568. / 51 Read more »

Top 3 Price Prediction Bitcoin, Ethereum, Ripple: BTC to dip, taking altcoins with itBitcoin (BTC) price shows weakness as it approaches a key hurdle. Rejection for BTC could prompt altcoins like Ethereum (ETH) and Ripple (XRP) to cras
Source: FXStreetNews - 🏆 14. / 72 Read more »

Bitcoin (BTC) Forms Rare Pattern, Analyst Predicts 5% DropTop market analyst Bitcoin (BTC) bears may sustain drawdown by 5%
Source: Utoday_en - 🏆 295. / 63 Read more »

Interest in Bitcoin (BTC) Plunges to Lowest Level Since 2020Google Trends data reveals that search interest in Bitcoin, front-running digital currency, has plummeted to its lowest level since October 2020
Source: Utoday_en - 🏆 295. / 63 Read more »