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The post Bitcoin Price Due for a 4x Rally as Crypto Cohorts Accumulate Over 60K BTC Ahead of Halving! appeared first on Coinpedia Fintech News
The markets are trading at equilibrium, with the prices of the majority of cryptos hovering within a range bound. Bitcoin, specifically, remains clogged around $43,000, failing to rise above $43,600 or drain below $42,800. This sluggish behaviour of Bitcoin has led to a massive drop in user interest, who are looking out for other altcoins in the short term. However, in the long term, Bitcoin is expected to display massive price action as the crypto cohorts have been preparing for the upcoming Bitcoin halving.
The upcoming Bitcoin halving is considered to be one of the major catalysts that could propel BTC prices higher. With the drop in issuance, the market participants, along with miners and other squads, have been accumulating BTC constantly in the past 30 days. The detailed cohort analysis illustrates the unique accumulation and distribution pattern with the market ahead of halving.