A prominent trader, TheScalpingPro, believes Bitcoin's post-halving dip might be nearing its end, suggesting a potential for substantial price gains. He highlights that historically, Bitcoin's post-halving periods have presented opportunities for accumulation, with significant rallies following the initial dip. This recent dip, according to TheScalpingPro, is likely a consolidation phase and not a sign of a market top, as many investors perceive it to be. He points to previous halving cycles, where missing the initial dip resulted in missing out on substantial gains - +12,100% in 2012, +4,000% in 2016, and +700% in 2020. He predicts that if Bitcoin reaches $200,000 in 2024, selling at the current dip could lead to missing a potential +250% gain. Supporting this, data from IntoTheBlock shows an increase in large Bitcoin transactions and active addresses, indicating growing institutional interest. The Bitcoin Fear & Greed Index also suggests a possible local bottom, further reinforcing the bullish sentiment.
Key Points:
Bitcoin's post-halving dip may be over, according to a prominent trader.
The trader expects a strong price rally soon.
Historical data shows that Bitcoin's post-halving dips have presented opportunities for accumulation.
Bitcoin's post-halving dips often lead to significant rallies.
The recent dip could be a consolidation phase and not a sign of a market top.
The trader predicts a potential +250% gain if Bitcoin reaches $200,000 in 2024.
IntoTheBlock data suggests growing institutional interest in Bitcoin.
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