With Bitcoin (BTC) hitting a pause at around $64K, the bear market trauma seems to have caused many investors to open short positions. But there are three critical reasons why you should not be shorting but buying Bitcoin (BTC) before 2024. Let’s understand why.
Why You Should Buy Bitcoin Before 2024
As mentioned above, here are the three reasons why you should consider scooping up BTC:
- Historical data shows the best performance of BTC price has always happened in Q4.
- Furthermore, post-halving and bull run historical data shows Bitcoin is at the halfway point of the ongoing bull run that began in 2023.
- With the approval of spot Bitcoin ETF and Bitcoin options, the institutional demand is only going to increase and there’s only so much BTC to go around.
All of these data points indicate a massive bull run awaits BTC and the rest of the crypto market.
Historical Data Shows Q4 is Best Quarter
Coinglass Data for the past 11 years shows the average Q4 return is nearly 90%, following this is Q1 & Q2 with 56% and 27% yields, Q3, which is the current quarter we’re in, has the worst performance of 6% return.
As of this writing, Q3 performance of Bitcoin in 2024 stands at 0.41% and goes to show that buying dips before Q4 2024 is the best idea.
Post-halving Rally
After halving the average Bitcoin cycle starts roughly 170 days after the halving. Since the April 19, 2024 halving, 155 days have elapsed, suggesting that there are only two weeks before the bull cycle restarts.
From the same data point, if this rally kickstarts in two weeks, it will peak roughly 480 days after halving, which puts the potential top of Bitcoin around August 12, 2025.
The average #Bitcoin cycle:
Starts 170 days after halving
Peaks 480 days after halvingWe are currently 147 days after the $BTC halving pic.twitter.com/jINl8Y4usP
— Quinten | 048.eth (@QuintenFrancois) September 15, 2024
As noted in a previous CoinGape article, the Mars-Vesta cycle also showcases a massive bullish outlook for BTC. Based on this Bitcoin price prediction, a $100K per BTC could be a reality in October 2025.
The post Why You Should Buy Bitcoin Before 2024 Ends appeared first on CoinGape.
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