Cathie Wood: Bitcoin Price Trends Indicate Potential New Bull Market Ahead of 2024 Halving
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Bitcoin's price jumped above its 200-week moving average in October, indicating potential start of a new bull market according to Cathie Wood.
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Bitcoin's price cycles follow a pattern tied to the halving events every 4 years, usually bottoming out 1.5 years before the next halving.
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Current price cycle is playing out similarly to previous cycles based on analysis by Ark Invest.
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With next halving in April 2024, past trends indicate Bitcoin's best price appreciation is still ahead.
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Despite being up 125% in 2022, now could be an ideal entry point to buy Bitcoin before the next presumed bull market.