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The last 14 days of the longest wait in history in Bitcoin

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If Bitcoin continues to move forward in the next two weeks, it will face a situation that has never been seen before.

Kyoung Joo, CEO of blockchain analytics company CryptoQuant, noted that 285 days have passed this year and said, “If the bull market doesn’t start in the next 14 days, Bitcoin will be the worst half-year in history. Long horizontal course will do,” he said.

The number one cryptocurrency by market value experienced a fourth halving on April 19, 2024. Historically, the half years stand out as the years when Bitcoin performed strongly and the bull market began. 2012 saw a 160 percent increase in prices, 121 percent in 2016 and 289 percent in 2020. Since the start of 2024, Bitcoin price growth has remained at 49%.

Bitcoin’s longest half-year rise was in 2020. The cryptocurrency has been flat for 298 days this year. At the same time, 2020 was the year in which Bitcoin performed best in terms of half-year gains.

On the other hand, 2024 was different from other years. Bitcoin broke the price record for the first time in its 15-year history before halving.

Is Bitcoin waiting for the election to escalate?

Bitcoin may be waiting for a US presidential election surge. According to asset management giant Bernstein, price movements will remain within a certain range until the November 5 election. It is believed that the victory of Donald Trump will have more positive consequences for cryptocurrencies. Analysts at British bank Standard Chartered wrote that they expect bitcoin to rise sharply if Trump wins the election.

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