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- Crypto expert seth_fin shared an analysis of previous movements of the leading asset in DeFi (DeFi) and said, ‘the more sideways we go, the bigger the rise will be after the halving.’
- Halvings occur approximately every four years in this Proof-of-Work (PoW) cryptocurrency, where the mining reward is halved, thus maintaining scarcity and balancing inflation.
- The analyst stated, ‘AB banks will be allowed to put 2% of their total capital into Bitcoin
,’ referring to a historic decision made by the European Parliament’s Committee on Economic Affairs.
A famous analyst shared their thoughts on how Bitcoin could make a significant upward move, expressing an unpopular view.
Bitcoin’s Rise Could Be Much Bigger
Bitcoin (BTC) briefly dipped below $25,000 after experiencing a period of decline, but a cryptocurrency market analyst believes that the current trend is only temporary tranquility before 2024 and pointed out that this view is not popular.
In particular, crypto expert seth_fin shared an analysis of previous movements of the leading asset in DeFi (DeFi) and said, ‘the more sideways we go, the bigger the rise will be after the halving.’
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Bitcoin has seen significant bull rallies after each halving. Halvings occur approximately every four years in this Proof-of-Work (PoW) cryptocurrency, where the mining reward is halved, thus maintaining scarcity and balancing inflation.
Furthermore, the crypto analyst equated the observed sideways movement with accumulating Bitcoin and said, ‘2025 will be great due to all this liquidity from Blackrock, Fidelity, JPMorgan Chase, Goldman Sachs, etc.’
Indeed, the analyst stated, ‘AB banks will be allowed to put 2% of their total capital into Bitcoin,’ referring to a historic decision made by the European Parliament’s Committee on Economic Affairs that would officially bring Bitcoin into the mainstream financial system.
Current State of Bitcoin Price
Meanwhile, at the time of writing, Bitcoin was trading at $26,090 and had recorded a 1.77% increase during the day. It gained 1.52% over the past week, but data from September 12th showed an 11.1% loss on a monthly basis.
Additionally, as Bitcoin’s dominance continues to break the local downtrend while maintaining an upward trend in the higher time frame, at least according to CredibleCrypto, a near-term rally could be ‘just around the corner.
