Bitcoin: Expect The Unexpected – Analyst Sees Unconventional Bull Run Post-Halving

Dalmas Ngetich

1 year ago

2 mins read

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Bitcoin has been moving lower ahead of the Halving event, going against analysts’ expectations. This price action has been unexpected and shows how the coin tends to go against predictions, basically charting its path.

Bitcoin Breaking The Mold

In light of Bitcoin’s randomness, especially in the past few months following the approval of spot exchange-traded funds (ETFs), one analyst expects the coin to continue defying expectations by clocking in a bull run that defies historical trends.

The 4-year simple moving average for Bitcoin | Source: Analyst on X

The analyst cites two recent instances where Bitcoin defied expectations to justify this bullish outlook. First, following the rapid expansion in the 2020 to 2021 bull run that saw Bitcoin soar from less than $10,000 to fresh all-time highs of around $70,000, prices sharply contracted in 2022.

Then, the United States Federal Reserve shifted its monetary policy to curb raging inflation by rapidly increasing interest rates. Following this and other market-related events, Bitcoin prices dipped below the all-time high of the previous cycle of $20,000.

By November 2022, prices fell to as low as $15,000, accelerated by the collapse of FTX. This retest of previous highs and fall below $20,000 had never happened before.

Another anomaly occurred last month. For the first time, Bitcoin prices expanded and broke the previous all-time highs of around $70,000 before the Halving event. As Bitcoin’s past price action shows, prices only rally to fresh all-time highs after Halving.

However, this changed when BTC soared to $73,800, possibly paving the way for bulls to join in and push the coin back to unchartered territory post-Halving.

Is BTC Ready For A Multi-Year Rally?

With this in mind, the analyst believes Bitcoin will continue uniquely shaping its path, deviating from history. For instance, the analyst thinks BTC will outperform altcoins in the coming months.

The analyst adds that increased regulatory scrutiny following high-profile collapses like FTX and Luna could dampen altcoin enthusiasm.

The coin will ride on the fact that it is the only one with an ETF from the United States SEC receiving investments. As a result of this capital injection, Bitcoin will likely register a multi-year “up only” phase, just like gold did once its ETF was approved.

Bitcoin price trending sideways on the daily chart | Source: BTCUSDT on Binance, TradingView

Prices remain depressed ahead of this. Though prices are increasing at spot rates, the coin is within a bear formation. Currently, BTC has local resistance at around $65,000.

Feature image from DALLE, chart from TradingView

Dalmas Ngetich

Dalmas, a seasoned crypto reporter, brings a unique perspective to the industry. His specialization in NFTs, blockchain, DeFi, and blockchain news for NewsBTC, combined with a background in mechanical engineering and over a decade of experience in journalism, has allowed him to craft over 10,000 news and feature articles over the past eight years. His diverse range of topics, including technology, Forex, and finance, reflects his comprehensive understanding of the crypto landscape.

His technical expertise and analytical skills have been recognized and featured by leading news outlets such as Investing.com, CoinTelegraph, Entrepreneur, Forbes, and other authority sites. Notably, he broke key news, including the Ripple and MoneyGram partnership, cementing his position as a thought leader in crypto.
The news exploded. Over 100,000 people devoured this meticulously crafted report, from seasoned investors to curious newcomers. His analysis wasn't just dry facts and figures; it crackled with insight, dissecting the implications of the partnership and its potential impact on the future of finance.

His deep understanding of the financial markets, technological advancements, and blockchain developments has made him a respected voice in the industry.

Dalmas is also the founder of BTC-Pulse, a crypto news site, further demonstrating his commitment to the field. He firmly believes that DeFi and NFTs are here to stay and will continue to drive financial inclusion.

Coming from Nairobi, Kenya, it is easy to see the source of his inspiration: Across Africa, millions lack access to traditional banks. Remote villages, limited documentation, and high minimum balances create insurmountable barriers.

DeFi, not just Maker or Aave, for example, but think of Bitcoin and USDT, cuts out the middleman. Forget banks with their limitations.
Even so, DeFi isn't a magic solution. The continent still struggles with reliable internet access, and educational campaigns highlighting the benefits of this wonderful solution are insufficient. Moreover, even for those interested, understanding DeFi can look like learning a new language.

Dalmas is here to help make the tech easy to understand and digestible, even for beginners.
The story of DeFi in Africa is still being written. Challenges abound, but the promise of a more inclusive financial future is a powerful motivator. With innovation and collaboration, Dalmas firmly believes that DeFi could become the key to unlocking Africa's full economic potential.
This possibility and its immense value motivate Dalmas to continue breaking key DeFi innovations and more across the globe. His engineering background further enhances his ability to deliver well-thought-out pieces that blend technical insight with clear, impactful reporting.

Beyond his professional achievements, Dalmas is deeply passionate about technology and politics. Policies drive adoption, and being at the forefront and keeping up with how they evolve is crucial for the sphere to mature.

When Dalmas is not closely monitoring the latest crypto events, he can be found in nature, exploring the picturesque countryside, and traveling with his family and friends. His love for adventure and discovery perfectly complements his investigative and reporting skills.
You can connect with Dalmas on X: @Dalmas_Ngetich, or contact him on Telegram @Dalmas_Ngetich.

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