Bitcoin's Historical Patterns Suggest Potential Rally Ahead Post-Halving, While Ethereum ETFs Spark Institutional Interest

Our services provide a wide range of financial information and tools. You’ll find updates on earnings, guidance, dividends, mergers, and acquisitions. We also cover buybacks, legal matters, interviews, management offerings, IPOs, and insider trades.

We focus on various sectors, including biotech, politics, government, healthcare, and many market segments. This includes pre-market, after-hours trading, movers, ETFs, forex, cannabis, commodities, binary options, bonds, futures, and more.

A recent report suggests that Bitcoin rallies often start 6 to 12 months after a halving event. This could indicate a bullish trend is coming. Right now, Bitcoin is showing a consolidation pattern between $50,000 and $68,000. This behavior is similar to what we saw during previous halving years, especially in 2020.

The Canaccord report highlights that we are currently 163 days past the latest Bitcoin halving. Historically, Bitcoin (BTC/USD) tends to rise following these events. If this pattern holds, we might see an uptrend soon. Canaccord analysts are optimistic. They say, “The halving cycle psychology could mean more bullish times ahead.” They believe that favorable supply and demand dynamics after the halving, along with current market conditions, could push Bitcoin's price higher in the coming months.

Bitcoin's price has been steady, breaking through previous resistance levels around $60,000. At the same time, its network security is improving, as shown by new all-time highs in hash rate.

When it comes to Ethereum (ETH/USD), the launch of spot ETH ETFs is seen as a long-term growth catalyst. These ETFs are expected to promote wider adoption and reduce regulatory uncertainty. However, the report notes that Ethereum has underperformed compared to Bitcoin in the short term. It states, “Ethereum once again underperformed Bitcoin in Q3, but outperformed most other asset classes YTD, up 60%+.” This underperformance is linked to ongoing concerns about its use case development and competition from alternative Layer-1 networks.

Despite this mixed performance, the launch of these ETFs is a significant step toward institutional adoption. Canaccord analysts believe that these ETFs will help Ethereum stand out from other Layer-1 networks and boost investor interest and developer activity.

As the market looks for a potential rally, discussions at Benzinga’s Future of Digital Assets event on November 19 will be important. Key market players will share insights on cryptocurrency trends and forecasts.

Market news and data are provided by Benzinga. You can find comments in the categories of Cryptocurrency News and Top Stories, including Bitcoin halving and insights from Canaccord Genuity. Trade confidently with insights and alerts from analyst ratings, free reports, and breaking news that affects the stocks you care about.