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Well. Not easy to give this finding in the chart a nice name. But the core is the time line of 546 days. Also it is a bit strange that it is exactly these amount of days. But, lets have a closer look:
So far Bitcoin has passed three halvings. In 2012, 2016 and 2020. The next halving is expected in 2024.
Halving 2012: 28-11
Halving 2016: 09-07
Halving 2020: 11-05
Halving 2024: 01-05 (expected) - https://bitcoinblockhalf.com/
The discovery was made in regards to the last 2 halvings in 2016 and 2020.
Related to halving in 2012 only a suspicious event is indicated. But I will come to that in the end.
An expectation related to next halving in 2024 is also provided.
Halving 2016
On the picture below, the blue line indicates the halving on 09-07-2016.
Exactly 546 days before, Bitcoin dropped down ~40% within the next 2 days.
This event was marking the bottom for the 2015 bear market after the high in 2014.
The drop-down happened exactly 400 days after the high in 2014.
Halving 2020
On the picture below, the blue line indicates the halving on 11-05-2020.
Exactly 546 days before, Bitcoin dropped down ~50% within the next 30 days.
This event was marking the bottom for the 2018/19 bear market after the high in 2017.
The drop-down happened exactly 332 days after the high in 2017.
Halving 2024
If the findings above from 2016 and 2020 are taken in consideration, then an eventually similar scenario could happen in first week of November 2022.
At time of writing (01-11-2022) this could happen today. But due to the fact that the halving in 2024 can currently not exactly be predicted, this could vary a couple of days.
If looking on the 2022 chart and comparing with the other two this event could still happen, because:
- volatility of BTC becomes low
- last shake-out of the market to set a true bottom price for the current period
Related to first halving in 2012 - the curious thing
when going back 546 days from the first halving on 28-11-2012 we come to the date of 01-06-2011. BTC price was at $ 9,21 at that time. Bitcoin was just getting ready for a run towards almost $ 30.
https://99bitcoins.com/bitcoin/historical-price/
According to 99bitcoins.com a event was recorded exactly for that date:
"Gawker Publishes Article About The Silk Road - June 1, 2011Bitcoin value: $9.21 Bitcoin value 10 days later: $17.61
View Event #11 on ChartTitled “The Underground Website Where You Can Buy Any Drug Imaginable,” Adrian Chen's piece on Gawker is as provocative as it is popular. To many people reading it, the sudden realization that Bitcoin has a useful value – one that's entirely unique - hits home. With a link to Mt. Gox in the text, the article starts an enormous upswing in price that beats all previous records, reaching over $31 per bitcoin just one week after publication.
Sources: http://gawker.com/the-underground-website-where-you-can-buy-any-drug-imag-30818160"
Read more: 100% Complete Bitcoin Price History Graph + Related Events 2009 - 2022 | 99Bitcoins
Just let that sink.. 😏
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