A rally in the leading cryptocurrency is inevitable if its post-halving pattern remains relevant, according to a report by Canaccord, as reported by CoinDesk.
Historically, a bull run has emerged 6–12 months after the reward is halved, with the ATH forming another 2–6 months later, experts explained.
Analysts believe the dominant position of digital gold will diminish as the need for inflation hedging decreases.
Canaccord noted that currently, the leading cryptocurrency behaves similarly to other risk assets, responding to the Federal Reserve’s rate cuts. Bitcoin’s correlation with risk assets stands at 0.4, lower than the historical high of 0.6 in June 2022, experts added.
By the end of the third quarter, digital gold increased in price by approximately 140% compared to the same period last year, Ethereum by around 60%, and the S&P 500 by about 30%.
Earlier, WeRate co-founder Quinten François announced the start of a bull run in early October.
According to the specialist, the average cycle of the leading cryptocurrency begins approximately 170 days after halving, with the peak forming 480 days later. As of September 15, 147 days have passed since the reward to miners was halved.
Outlier Ventures previously declared the “death” of the bitcoin halving cycle.