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Experts warn that Bitcoin halving after 2024 could lead to a ‘major bear market’

Bitcoin (BTC) investors and enthusiasts are bracing themselves for a potential seismic shift in the cryptocurrency landscape, as a prominent analyst warns that a Bitcoin halving beyond 2024 could lead to a “major bear market.”

CrediBULL Crypto stirred up the cryptocurrency community with its latest analysis, suggesting that the upcoming halving event may not be the catalyst for a bullish rally, as many expected.

Bitcoin halving The events, which happen roughly every four years, have long been closely watched by investors due to their historical impact on the course of a cryptocurrency’s price. The halving mechanism is built into the cryptocurrency code and reduces the reward miners receive by half.

This event of scarcity often leads to supply shocks and, historically, has caused prices to skyrocket. The previous halving has already been followed by noticeable bullish waves. However, CrediBULL Crypto notes that a paradigm shift may be on the horizon.

Bitcoin bull market peak

CrediBULL Crypto Analysis It challenges the traditional narrative surrounding BTC halving cycles. While many viewed the halving events as the starting point for new bull cycles, CrediBULL argues that the halving after 2024 could mark the peak of an ongoing bull market cycle, which supposedly began in 2018 when bitcoin was priced at $3,000.

This alternate timeline indicates that the cryptocurrency is still in a prolonged bull market, and a price peak above the previous record of $69,000 is expected in November 2021.

CrediBULL’s assertion is based on its interpretation of historical data, which raises interesting questions about the cyclical nature of Bitcoin price movements and the broader factors that influence its trajectory.

HODLers unfazed amid uncertainty

As the debate about the future of Bitcoin intensified, recently Data from Glassnode Provides accurate perspective. The amount of “HODLed” or lost Bitcoin, those coins that long-term investors hold tightly, has risen to a new five-year high, reaching 7.8 million Bitcoin.

This phenomenon indicates that a significant portion of bitcoin holders are not fixated on market volatility, and choose to hold on to their investment rather than give up amid potential uncertainty.

Bitcoin (BTC) retains position in the $29k territory. Chart:

Firm market sentiment

Bitcoin stands at $29,415.22 across Queen Gekko, with a slight decrease of 0.3% in the past 24 hours, and a modest rise of 0.9% over the past seven days. However, the resilience shown by committed HODLers may indicate a more complex and persistent market sentiment.

As the cryptocurrency community contemplates the potential post-2024 implications, CrediBULL Crypto’s contrasting perspective challenges the prevailing wisdom and underscores the need for continued scrutiny of the evolving cryptocurrency landscape.

Investors are left to contemplate whether this expected bear market will materialize, or if the resilience of the cryptocurrency market will once again defy expectations.

Featured image from Lenex manufacture

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