Q4 could be a blockbuster moment for Bitcoin price as a multi-year historical price trend holds up.
Bitcoin (BTC) had a good start to 2024, rising over 40% year-to-date. This was fueled by a number of positive fundamental factors, including the launch of spot Bitcoin exchange-traded funds in the United States and the halving event, which reduced the amount of BTC awarded to miners by 50%.
Unlike previous cycles, Bitcoin price hit new all-time highs before the halving, leading many analysts to predict a supercycle within the current halving year.
More than 123 days have passed since the Bitcoin halving, and BTC price is yet to surpass its pre-halving all-time high. Bitcoin is down 13% over the last month and 14% over the last 30 days. This has left market analysts debating whether Bitcoin will launch a rally during the fourth quarter of 2024.
