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Bitcoin (BTC) 
$103,264 may experience a historical first in the coming days. According to CryptoQuant CEO Ki Young Ju, the anticipated bull market for BTC has yet to materialize despite 285 days passing since the start of the year. If this movement does not occur within the next 14 days, 2024 could witness the longest horizontal market period between halving events.
2024 Could Mark “The Longest Consolidation Year”
The four-year halving event typically triggers significant price surges in the cryptocurrency market. This phenomenon is linked to restricted supply and increasing demand. However, 2024 may disrupt this cycle. In previous halving years—2012, 2016, and 2020—prices began to rise relatively early, yet this has not happened in 2024. Current data suggests that time is running short for the market to recover and for the expected bull run to begin.
Even as the final quarter of the year approaches, there has been no significant upward trend in Bitcoin’s price. Expectations for a bull run in 2024 are high due to the halving, yet current price movements do not support this anticipation. Should Bitcoin not initiate a bull run in the next 14 days, it will mark the longest consolidation period in halving years.
What Are Market Players Anticipating?
Market players are curious if Bitcoin will experience a delayed price explosion based on previous halving cycles. The slow performance seen so far in the 2024 halving cycle has elicited mixed reactions among traders. Some believe that a bull market is inevitable and will begin soon, while others doubt that the leading cryptocurrency will achieve the expected breakout this time.
Ju’s statements on social media highlight the current market situation and provide investors with valuable insights on Bitcoin’s potential trajectory over the next two weeks.
