Although Bitcoin (BTC) has been trading sideways for the larger part of the previous week, zooming out on its chart demonstrates that the flagship decentralized finance (DeFi) asset has been moving in a familiar pre-halving pattern, giving a general idea of when to expect the next all-time high (ATH).
Indeed, Bitcoin is currently imitating the chart patterns from its previous pre-halving periods that preceded a massive bullish price rally for the maiden cryptocurrency, as observed by the pseudonymous crypto market analyst Stockmoney Lizards in a tweet shared on July 25.
Bitcoin pre-halving behavior analysis. Source: Stockmoney Lizards
Specifically, Bitcoin’s behavior in 2023, including the recent price action, is reminiscent of the largest crypto asset’s activities preceding the halving in 2016 and 2020, and the current trend suggests it will begin its stronger upward movement by the end of the pre-halving period, i.e., with the halving around May 2024.
Earlier, the crypto trading
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