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Bitcoin halving is less than two weeks away, traders likely to buy the rumor sell the news

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Bitcoin has been range bound since its year-to-date peak of $73,777 on March 14.

Bitcoin is likely to see a repeat of the 2016 halving, selling pressure could pile up to four months later. Three previous Bitcoin halvings were followed by a price rally in the asset, analysts expect the same for the upcoming event. BTC price is trading range bound between $73,777 and $60,700 since March 2024.

Bitcoin halving 2024 sees echoes of 2016 halving event Analysts at Steno Research have identified parallels between BTC price trajectory and its performance leading up to the 2016 halving and indicate that similar outcomes can be expected from the upcoming event.

 

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