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Cryptocurrency analyst PlanB stated that Bitcoin and the cryptocurrency market have entered the bull phase early, which could create unexpected risks in the market. Normally, the Bitcoin halving event occurs during the accumulation phase, but the 2024 halving event coincides with the bull market period. Therefore, according to PlanB, we are moving ahead before the market is ready to rise.
Timing Issue in Halving and Market Dynamics
According to PlanB, the Bitcoin halving, which occurs every 210,000 blocks, usually happens during the accumulation phase, giving the market a chance to gather strength. However, the halving that will occur at the 840,000th block in 2024 coincides with the bull run process. This situation creates unexpected risks for investors and the market. In Bitcoin’s normal cycles, such events occur during periods when the market is catching its breath and gathering strength, laying the groundwork for the next rise.
According to PlanB, Bitcoin’s early entry into the bull market has created a gap between market expectations and reality. The market’s rise started earlier than usual, but there are serious doubts about whether this rise is based on a solid foundation. This sudden movement in the market could lead investors to make abrupt decisions and increase market volatility. This situation could result in unexpected losses for investors and create long-term instability in the market.
PlanB’s Warning: The Market Is Not Ready Yet
PlanB highlighted this sudden market movement and warned investors to be more cautious. He stated that the market is not fully ready for a rise yet, and this early movement could lead to unexpected fluctuations in the market. For Bitcoin to enter a strong upward trend, it is believed that the market needs to progress on a more solid foundation.
Bitcoin’s future is closely related to the timing factor. An early bull market can offer opportunities for investors, but it also carries significant risks. According to PlanB’s analysis, the current state of the market is a process that needs to be closely monitored, and the difference between winners and losers could be substantial at the end of this process. At the time of writing, the flagship cryptocurrency Bitcoin was trading below $61,000.
