Bitcoin Experts Claim Post-Halving Performance Is More Bullish Than Pre-2017

Tony "The Bull" Severino

Last Updated: June 11, 2024 8:58 am

3 mins read

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Bitcoin price is gaining in momentum, tracking along well with the many scarcity-based valuations models that exist. These theories all believe that the cryptocurrency’s block reward halving kicks off a markup phase of epic proportions.

Currently, there are only two previous samples to go by, each where the asset explodes in ROI post-halving. At present, Bitcoin price action is outperforming even the early bull market foundation that resulted in the 2017 crypto bubble. Could this mean that the cryptocurrency is even more bullish during this cycle? Experts believe this is so, and it could lead to prices of $288,000 before the end of 2021 if the trajectory stays on target.

Experts Average Past Cycles, Conclude Bitcoin Price Will Reach $288,000 By End Of 2021

Early 2020 turned bearish due to the newness of the pandemic and the fear and panic that resulted. Bitcoin fell back to retest its bear market bottom, which held setting a higher low.

This was just one of two steps in confirming that the crypto asset’s bull market is on, with the second confirmation arriving this month with a higher high over last year’s peak.

The sudden and sharp increase over the last few weeks has reignited talk of all-time highs and as the year’s end approaches, where the cryptocurrency will be by the time another year has passed.

Crypto experts project a price of $288,000 per BTC by the end of 2021 | Source: BLX on TradingView.com

Top crypto analysts have been comparing past cycles and have come up with an average expectation of $288,000 per BTC by the end of 2021.

The average was found by taking each previous cycle’s post-halving performance and superimposing the price action over the current market since halving.

A Closer Look At How And Why The Cryptocurrency Is Performing Better This Cycle

In a zoomed-in version of the chart above, pictured below, Bitcoin price action is more bullish currently than the last cycle, which took the leading cryptocurrency by market cap from $1,000 to $20,000.

The first-ever post-halving bull cycle was the most bullish yet, where the crypto asset ran from just $10 to over $1,200.

Bitcoin is currently outperforming the last market cycle post-halving | Source: BLX on TradingView.com

This time around, $10,000 was the key level to break, and now that it’s been beaten, Bitcoin is back to its formerly bullish and volatile self, ready to rise again to the next peak.

And while analysts do use a logical average to find the next peak, they fail to consider the law of diminishing returns, which could result in an ROI this cycle that’s lesser than the last.

However, with Bitcoin more bullish now than it was in late 2016 before the historical bull market, anything is possible – even a much higher than projected peak.

Featured image from Deposit Photos, Charts from TradingView.com

Tony "The Bull" Severino

Tony "The Bull" Severino, CMT, is a distinguished figure in the cryptocurrency analysis sector, renowned for his in-depth technical expertise and innovative approach to market trends. As the Head of Research at NewsBTC, Tony leads a team dedicated to providing cutting-edge insights and forecasts, helping both novice and experienced traders navigate the complexities of the crypto market.
A seasoned Chartered Market Technician, Tony's prowess in identifying and capitalizing on market patterns is unmatched. His academic and professional journey in market analysis has firmly established him as a leading authority in technical trading strategies. Tony’s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements.

Beyond his role at NewsBTC, Tony is the visionary founder of CoinChartist.io, an educational platform aimed at demystifying the nuances of cryptocurrency trading. CoinChartist.io serves as a valuable resource for traders seeking to enhance their technical analysis skills. The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions.

In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony’s expertise to guide their trading strategies.

Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies.

Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders.
His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics.

Tony’s nickname, "The Bull," aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice.

In summary, Tony "The Bull" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.

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