Real Vision macro expert Julian Bittel believes that based on historical patterns, Bitcoin (BTC) is on the verge of a major rebound.
Bittel explains that at the moment, Bitcoin is in the typical “boring” phase that often precedes a significant rally, which usually occurs after halving events.
What we’re currently witnessing in terms of Bitcoin price action is fairly typical around the actual halving: A big pump leading into the halving, followed by a brief but sharp correction, a period of sideways chop, a final dump to nuke any remaining bullish sentiment, another…
He describes the typical sequence around the Bitcoin halving as a strong rally preceding the event, followed by a sharp correction, a period of sideways movement, a final decline to shake off any remaining bullish sentiment, another phase of sideways trading, and finally, price increases.
Bittel calls this the “boring zone before the banana zone” and urges patience.
Read more:
Crypto Whale bought nearly $40 billion worth of Bitcoin during the last dip.
Based on his analysis, Bittel predicts that Bitcoin could reach $240,000 by May 2025.
Currently, Bitcoin is trading at a price of $64,600, showing a slight increase in the last 24 hours.
