Since entering the 2024 halving year, Bitcoin has not managed to set a new record high yet, thereby spending more than 30 weeks in a lateral trend. This stagnation causes concerns among investors and analysts about the possibility of an upcoming bull market.
Ki Young Ju, the CEO of CryptoQuant, has also cautioned that if a bull market does not start within the next 14 days, it will be the longest period of sideways trading in a halving year.
Extended Stagnation in Bitcoin’s Market
Consequently, it has been longer than usual compared to the previous cycles for the stock prices to stay in the lateral zone. Historically, Bitcoin has formed a very strong upward momentum at this point of the halving cycle. It is usually followed by a very large price increase.
However, the current cycle looks significantly different; the cryptocurrency is unable to stoke similar growth. Such divergence creates doubts as to whether Bitcoin has the ability to start a strong bull run like it h
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