Bitcoin's Next ATH: Predicting the Price Surge
Table of contents
Mag's analysis is particularly intriguing due to its alignment with the proximity of the Bitcoin Halving event, just 130 days away. The Bitcoin Halving, occurring roughly every four years, significantly impacts the cryptocurrency's supply mechanism by reducing the rate of new bitcoin generation.
Speculating on the post-halving period, Mag suggests that adding 234 days brings us to a total of 364 days. Based on historical patterns, this leads to the hypothesis that Bitcoin could reach a new ATH around 364 days from today, potentially occurring in December 2024.
Mag's Bitcoin Analysis Highlights Trends and Future Milestone
Mag's analysis focuses on three pivotal stages in understanding the Bitcoin market. The first stage examines the 'Available and Active' Supply, providing insight into actively circulating BTC available for trading. The second stage reveals a decline in available supply during the 'supply storage and saving' phase, indicating a shift towards cold storage and long-term investor wallets.
A noteworthy observation is the sustained period since February 2022, where accumulation rates of entities holding less than 100 BTC have surpassed new issuance, marking a unique trend in Bitcoin's history. The third stage analyzes the impact of capital flows on market valuation, emphasizing the current tight supply and liquidity state of the Bitcoin market. If projections hold true, December 2024 could witness a significant moment in Bitcoin's history, solidifying its position as a leading digital asset in the financial landscape.