{"id":641106,"date":"2024-09-11T17:30:02","date_gmt":"2024-09-11T17:30:02","guid":{"rendered":"https:\/\/wncen.com\/?p=641106"},"modified":"2024-09-11T09:28:58","modified_gmt":"2024-09-11T09:28:58","slug":"bitcoin-is-in-a-healthier-place","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin\/bitcoin-is-in-a-healthier-place\/","title":{"rendered":"Analyst Says Bitcoin Is In A \u2018Healthier\u2019 Place Now, Here\u2019s Why"},"content":{"rendered":"

Bitcoin might be stuck in a downtrend, but fundamental analysis suggests it is in a healthy position. According to a recent analysis by crypto analyst Kaleo, Bitcoin is currently putting up healthier dynamics than it did in the previous halving cycle. This intriguing outlook for Bitcoin comes amidst the cryptocurrency’s struggle to <\/span>stand firm above $54,000<\/span><\/a> and <\/span>break above $57,000<\/span><\/a>.<\/span><\/p>\n

Bitcoin Is In A Healthier Place<\/h2>\n

Kaleo’s Bitcoin analysis, which was posted on social media platform X, compared the current BTC price performance since the recently concluded April 2024 halving to its performance after the previous halving in May 2020. It has already been 141 days since the last halving, but the BTC price has yet to perform up to expectations that many expected.\u00a0<\/span><\/p>\n

Related Reading: Ethereum In 3 Months: Legendary Analyst Reveals Prediction For December<\/a><\/div>\n

The analyst highlighted that Bitcoin is currently trading 19% below its all-time high of $69,434 reached during the last market cycle. While some may interpret this underperformance as a sign of a prolonged bearish trend, Kaleo pointed out that Bitcoin is actually still holding up well. This is because, at the same time, after the 2020 halving, Bitcoin was already down 46% from the 2018 top. This historical context reiterates BTC’s stronger position today despite its current struggles to break above substantially.<\/span><\/p>\n

At the time of writing, Bitcoin is trading at $56,616. The lack of sustained bullish momentum since August has caused several crypto analysts to scale back their once-optimistic predictions. There have now been many <\/span>negative and bearish predictions<\/span><\/a> given the current market situation.\u00a0<\/span><\/p>\n

However, Kaleo reminds us of a sentiment similar to that that dominated the market shortly after the 2020 halving. Back then, negative outlooks were prevalent. Many market participants expressed doubts and negative predictions about BTC’s future. Yet, Bitcoin bulls eventually defied these predictions, driving the cryptocurrency\u2019s market cap above the $1 trillion level for the first time. This also triggered a significant rise in the <\/span>value of many altcoins<\/span><\/a> and the emergence of new sectors like NFTs.\u00a0<\/span><\/p>\n

\n

#Bitcoin<\/a> \/ $BTC<\/a><\/p>\n

What if I told you Bitcoin is in a healthier place now than when it was at the same point post halving last cycle?<\/p>\n

It’s currently only down ~19% from last cycles top (141 days post halving).<\/p>\n

In 2020, it was down ~46% from the 2018 top 141 days post halving.\u2026 pic.twitter.com\/tZ0mFey15I<\/a><\/p>\n

\u2014 K A L E O (@CryptoKaleo) September 9, 2024<\/a><\/p><\/blockquote>\n

What\u2019s Next For BTC?<\/h2>\n

Kaleo\u2019s analysis suggests that despite the current pessimism, history might repeat itself, and Bitcoin will once again <\/span>rise above market expectations<\/span><\/a>. Furthermore, the analyst suggests the crypto ecosystem is <\/span>now in a better place <\/span><\/a>to support a stronger price surge. Institutional investors, for instance, are now able to efficiently invest in BTC through Spot Bitcoin ETFs. Regulatory clarity surrounding the crypto industry has also improved massively in the last four years.\u00a0<\/span><\/p>\n

Related Reading: Crypto Analyst Predicts Dogecoin Will Rise 3,600% To $3.7, Here\u2019s When<\/a><\/div>\n

Another analyst, Rekt Capital, <\/span>examined previous halving<\/span><\/a> cycles and proposed that if history repeats itself, the next Bitcoin breakout could occur in October, which has historically been a strong month for Bitcoin. <\/span>History also shows<\/span><\/a> that the market peak could occur between 518 and 546 days after the April halving.\u00a0\u00a0<\/span><\/p>\n

\"Bitcoin
BTC price trending at $56,600 | Source: BTCUSD on Tradingview.com<\/a><\/figcaption><\/figure>\n
Featured image created with Dall.E, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"

Bitcoin might be stuck in a downtrend, but fundamental analysis suggests it is in a healthy position. According to a recent analysis by crypto analyst Kaleo, Bitcoin is currently putting up healthier dynamics than it did in the previous halving cycle. This intriguing outlook for Bitcoin comes amidst the cryptocurrency’s struggle to stand firm above $54,000 and break above $57,000. Bitcoin Is In A Healthier Place Kaleo’s Bitcoin analysis, which was posted on social media platform X, compared the current BTC price performance since the recently concluded April 2024 halving to its performance after the previous halving in May 2020. It has already been 141 days since the last halving, but the BTC price has yet to perform up to expectations that many expected.\u00a0 Related Reading: Ethereum In 3 Months: Legendary Analyst Reveals Prediction For December The analyst highlighted that Bitcoin is currently trading 19% below its all-time high of $69,434 reached during the last market cycle. While some may interpret this underperformance as a sign of a prolonged bearish trend, Kaleo pointed out that Bitcoin is actually still holding up well. This is because, at the same time, after the 2020 halving, Bitcoin was already down 46% from the 2018 top. This historical context reiterates BTC’s stronger position today despite its current struggles to break above substantially. At the time of writing, Bitcoin is trading at $56,616. The lack of sustained bullish momentum since August has caused several crypto analysts to scale back their once-optimistic predictions. There have now been many negative and bearish predictions given the current market situation.\u00a0 However, Kaleo reminds us of a sentiment similar to that that dominated the market shortly after the 2020 halving. Back then, negative outlooks were prevalent. Many market participants expressed doubts and negative predictions about BTC’s future. Yet, Bitcoin bulls eventually defied these predictions, driving the cryptocurrency\u2019s market cap above the $1 trillion level for the first time. This also triggered a significant rise in the value of many altcoins and the emergence of new sectors like NFTs.\u00a0 #Bitcoin \/ $BTC What if I told you Bitcoin is in a healthier place now than when it was at the same point post halving last cycle? It’s currently only down ~19% from last cycles top (141 days post halving). In 2020, it was down ~46% from the 2018 top 141 days post halving.\u2026 pic.twitter.com\/tZ0mFey15I \u2014 K A L E O (@CryptoKaleo) September 9, 2024 What\u2019s Next For BTC? Kaleo\u2019s analysis suggests that despite the current pessimism, history might repeat itself, and Bitcoin will once again rise above market expectations. Furthermore, the analyst suggests the crypto ecosystem is now in a better place to support a stronger price surge. Institutional investors, for instance, are now able to efficiently invest in BTC through Spot Bitcoin ETFs. Regulatory clarity surrounding the crypto industry has also improved massively in the last four years.\u00a0 Related Reading: Crypto Analyst Predicts Dogecoin Will Rise 3,600% To $3.7, Here\u2019s When Another analyst, Rekt Capital, examined previous halving cycles and proposed that if history repeats itself, the next Bitcoin breakout could occur in October, which has historically been a strong month for Bitcoin. History also shows that the market peak could occur between 518 and 546 days after the April halving.\u00a0\u00a0 Featured image created with Dall.E, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":641116,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651],"tags":[167,428,656,679,1119,89185,1122,1144,78790,6664,26263,14690],"class_list":["post-641106","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","tag-analyst","tag-bitcoin","tag-bitcoin-news","tag-bitcoin-price","tag-btc","tag-btc-news","tag-btc-price","tag-btcusd","tag-btcusdt","tag-crypto","tag-crypto-analyst","tag-crypto-news"],"acf":[],"yoast_head":"\nAnalyst Says Bitcoin Is In A \u2018Healthier\u2019 Place Now, Here\u2019s Why<\/title>\n<meta name=\"description\" content=\"Bitcoin 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Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers. Scott\u2019s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott\u2019s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life. With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/MathersonScott"],"url":"https:\/\/wncen.com\/author\/mathersonscott1\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Analyst Says Bitcoin Is In A \u2018Healthier\u2019 Place Now, Here\u2019s Why","url":"http:\/\/wncen.com\/news\/bitcoin\/bitcoin-is-in-a-healthier-place\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin\/bitcoin-is-in-a-healthier-place\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/09\/Bitcoin_19b937.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/09\/Bitcoin_19b937.jpeg?fit=1792%2C1024"},"articleSection":"Bitcoin","author":[{"@type":"Person","name":"Scott Matherson"}],"creator":["Scott Matherson"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["analyst","bitcoin","bitcoin news","bitcoin price","btc","btc news","btc price","btcusd","btcusdt","crypto","crypto analyst","crypto news"],"dateCreated":"2024-09-11T17:30:02Z","datePublished":"2024-09-11T17:30:02Z","dateModified":"2024-09-11T17:30:02Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Analyst Says Bitcoin Is In A \\u2018Healthier\\u2019 Place Now, Here\\u2019s Why\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin\\\/bitcoin-is-in-a-healthier-place\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin\\\/bitcoin-is-in-a-healthier-place\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/09\\\/Bitcoin_19b937.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/09\\\/Bitcoin_19b937.jpeg?fit=1792%2C1024\"},\"articleSection\":\"Bitcoin\",\"author\":[{\"@type\":\"Person\",\"name\":\"Scott Matherson\"}],\"creator\":[\"Scott Matherson\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"analyst\",\"bitcoin\",\"bitcoin news\",\"bitcoin price\",\"btc\",\"btc news\",\"btc price\",\"btcusd\",\"btcusdt\",\"crypto\",\"crypto analyst\",\"crypto news\"],\"dateCreated\":\"2024-09-11T17:30:02Z\",\"datePublished\":\"2024-09-11T17:30:02Z\",\"dateModified\":\"2024-09-11T17:30:02Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/09\/Bitcoin_19b937.jpeg?fit=1792%2C1024","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/641106"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/594"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=641106"}],"version-history":[{"count":2,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/641106\/revisions"}],"predecessor-version":[{"id":641118,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/641106\/revisions\/641118"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/641116"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=641106"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=641106"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=641106"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}