Investors are eagerly awaiting halving, which following the current blockchain trend, is expected to take place in about 18 months.
This halving process of Bitcoin cadenced by three- or four-year cycles consists of the bestowal of coin rewards to miners.
In summary, the next halving is expected to occur in 2024.
Historically, the bull market has always started a few months before halving to continue for a few months afterwards. The last halving occurred in May 2020 and, as scripted, was followed by a run-up in price that saw BTC reach Bitcoin's record high of nearly $69,000 in November 2021.
Since reaching that milestone, Bitcoin has plummeted by about 70 percent.
Markets have a cyclical pattern, and the best time to take positions has almost always been when retail traders exit the market due to lack of confidence. This level often corresponds to areas of lows for sentiment indicators. Low trading volumes and low volatility, indicate the possible reaching of this level. Despite this, the macroeconomic situation remains hurt by the high inflation that plagues the fundamentals of technology stocks on a daily basis. Bitcoin, according to a study by cryptohubble can for all intents and purposes be considered a technology company and for that reason has a correlation rate with the NASDAQ of over 60 percent (0.6 points).
