While the halving is associated with Bitcoin bull cycles, the current rally is mainly driven by ETF inflows, argues Bybit’s Yang.
Bitcoin price (BTC) rallied approximately 650% since the last Bitcoin halving in 2020. If history repeats, Bitcoin could reach the $435,000 price level before the 2028 halving.
Bitcoin price rose around 658% since the last Bitcoin halving in 2020, according to TradingView data, currently trading around the $66,000 mark.
The 2024 Bitcoin halving will happen in less than three weeks. If historical chart patterns were to repeat, Bitcoin’s current $66,000 price would reach $434,280 per unit if it performs similarly to the current cycle by the 2028 halving.
